Alta Wealth Advisors LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Alta Wealth Advisors LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,901 shares of the company’s stock after selling 138 shares during the quarter. Alta Wealth Advisors LLC’s holdings in AbbVie were worth $1,404,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GGM Financials LLC raised its position in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc raised its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares in the last quarter. Dillon & Associates Inc. lifted its stake in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. First Citizens Financial Corp boosted its holdings in AbbVie by 0.9% in the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after purchasing an additional 53 shares in the last quarter. Finally, Sunflower Bank N.A. increased its position in AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

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

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $175.54 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm has a market capitalization of $310.21 billion, a PE ratio of 60.95, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s fifty day moving average price is $176.37 and its two-hundred day moving average price is $184.90.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, analysts expect that AbbVie Inc. will post 10.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ABBV. Citigroup decreased their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. UBS Group upped their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Guggenheim lifted their target price on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

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.