AbbVie Inc. (NYSE:ABBV) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,911 shares of the company’s stock after selling 79 shares during the period. Stableford Capital II LLC’s holdings in AbbVie were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Abundance Wealth Counselors grew its stake in AbbVie by 1.1% during the 4th quarter. Abundance Wealth Counselors now owns 16,287 shares of the company’s stock worth $2,894,000 after buying an additional 172 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of AbbVie by 40.1% during the fourth quarter. Independence Bank of Kentucky now owns 25,823 shares of the company’s stock worth $4,589,000 after acquiring an additional 7,393 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new position in shares of AbbVie in the 4th quarter valued at $255,000. China Universal Asset Management Co. Ltd. raised its position in AbbVie by 145.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,576 shares of the company’s stock valued at $2,768,000 after purchasing an additional 9,231 shares during the last quarter. Finally, Concord Wealth Partners boosted its stake in AbbVie by 8.9% during the 4th quarter. Concord Wealth Partners now owns 29,480 shares of the company’s stock worth $5,239,000 after purchasing an additional 2,408 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ABBV shares. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Truist Financial cut their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five research 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. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $183.90 on Friday. 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 price is $176.57 and its 200 day moving average price is $184.95. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market cap of $324.98 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same quarter in the previous year, the firm earned $2.79 EPS. As a group, research analysts forecast that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Company 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.