Avitas Wealth Management LLC Sells 211 Shares of AbbVie Inc. (NYSE:ABBV)

Avitas Wealth Management LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 19,607 shares of the company’s stock after selling 211 shares during the period. Avitas Wealth Management LLC’s holdings in AbbVie were worth $3,484,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Tanager Wealth Management LLP increased its stake in shares of AbbVie by 20.5% in the fourth quarter. Tanager Wealth Management LLP now owns 3,507 shares of the company’s stock worth $623,000 after purchasing an additional 596 shares in the last quarter. James J. Burns & Company LLC boosted its holdings in AbbVie by 29.0% in the 4th quarter. James J. Burns & Company LLC now owns 1,766 shares of the company’s stock worth $313,000 after buying an additional 397 shares during the period. Mather Group LLC. grew its stake in AbbVie by 3.3% in the 4th quarter. Mather Group LLC. now owns 29,734 shares of the company’s stock valued at $5,284,000 after buying an additional 950 shares in the last quarter. Stephens Consulting LLC grew its stake in AbbVie by 41.6% in the 4th quarter. Stephens Consulting LLC now owns 2,461 shares of the company’s stock valued at $437,000 after buying an additional 723 shares in the last quarter. Finally, Welch Group LLC raised its holdings in AbbVie by 1.2% during the 4th quarter. Welch Group LLC now owns 364,516 shares of the company’s stock valued at $64,228,000 after acquiring an additional 4,317 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Down 0.1 %

Shares of AbbVie stock opened at $189.97 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50 day moving average is $176.84 and its 200 day moving average is $185.26. The company has a market cap of $335.71 billion, a price-to-earnings ratio of 79.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the firm earned $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current 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.