Institute for Wealth Management LLC. Sells 59 Shares of AbbVie Inc. (NYSE:ABBV)

Institute for Wealth Management LLC. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,500 shares of the company’s stock after selling 59 shares during the quarter. Institute for Wealth Management LLC.’s holdings in AbbVie were worth $3,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ABBV. Integris Wealth Management LLC boosted its stake in shares of AbbVie by 5.3% in the 4th quarter. Integris Wealth Management LLC now owns 5,164 shares of the company’s stock valued at $918,000 after purchasing an additional 259 shares during the last quarter. CMG Global Holdings LLC raised its position in shares of AbbVie by 1.6% during the 4th quarter. CMG Global Holdings LLC now owns 3,896 shares of the company’s stock valued at $659,000 after acquiring an additional 61 shares during the last quarter. Evernest Financial Advisors LLC raised its position in shares of AbbVie by 296.1% during the 4th quarter. Evernest Financial Advisors LLC now owns 5,355 shares of the company’s stock valued at $952,000 after acquiring an additional 4,003 shares during the last quarter. Heritage Financial Services LLC lifted its stake in shares of AbbVie by 4.4% in the 4th quarter. Heritage Financial Services LLC now owns 3,541 shares of the company’s stock valued at $629,000 after purchasing an additional 148 shares during the period. Finally, Hartford Financial Management Inc. boosted its position in shares of AbbVie by 0.8% in the 4th quarter. Hartford Financial Management Inc. now owns 25,191 shares of the company’s stock worth $4,476,000 after purchasing an additional 191 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ABBV shares. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Morgan Stanley reduced their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 0.2 %

ABBV stock opened at $175.54 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $310.21 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company’s 50 day moving average is $176.37 and its 200 day moving average is $184.90.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $2.95 EPS. Sell-side analysts predict that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.