AbbVie Inc. (NYSE:ABBV) Position Cut by SMART Wealth LLC

SMART Wealth LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 25.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,147 shares of the company’s stock after selling 398 shares during the period. SMART Wealth LLC’s holdings in AbbVie were worth $204,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AMF Tjanstepension AB bought a new position in shares of AbbVie during the 3rd quarter worth about $8,777,000. West Financial Advisors LLC raised its position in shares of AbbVie by 16.6% during the 3rd quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after acquiring an additional 109 shares during the last quarter. CWM LLC increased its position in shares of AbbVie by 6.7% in the 3rd quarter. CWM LLC now owns 245,019 shares of the company’s stock valued at $48,386,000 after buying an additional 15,388 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of AbbVie by 5.0% during the third quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock worth $4,292,000 after acquiring an additional 1,051 shares during the period. Finally, Adirondack Trust Co. raised its holdings in shares of AbbVie by 1.9% in the third quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock valued at $3,207,000 after purchasing an additional 301 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

ABBV opened at $192.95 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm’s 50 day moving average is $177.19 and its 200-day moving average is $185.43. The firm has a market capitalization of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter last year, the business posted $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Truist Financial raised their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler increased their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

About AbbVie

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.