Leo Wealth LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Leo Wealth LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 4.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 21,159 shares of the company’s stock after selling 1,069 shares during the period. Leo Wealth LLC’s holdings in AbbVie were worth $3,760,000 at the end of the most recent quarter.

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

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was 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 of the company’s stock, valued at $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 SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $192.95 on Friday. The firm has a fifty day moving average price of $177.19 and a 200 day moving average price of $185.43. The stock has a market cap of $340.96 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $2.79 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented 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 for the company. in a research note on Thursday, December 5th. Piper Sandler boosted their price target 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. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. Finally, Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average 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.