AbbVie Inc. (NYSE:ABBV) Shares Sold by Adero Partners LLC

Adero Partners LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,769 shares of the company’s stock after selling 1,501 shares during the period. Adero Partners LLC’s holdings in AbbVie were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new stake in AbbVie during the 4th quarter worth approximately $1,725,000. Bleakley Financial Group LLC grew its position in shares of AbbVie by 19.8% during the fourth quarter. Bleakley Financial Group LLC now owns 59,682 shares of the company’s stock worth $10,606,000 after buying an additional 9,879 shares in the last quarter. Kercheville Advisors LLC bought a new stake in shares of AbbVie in the fourth quarter worth $217,000. Trilogy Capital Inc. raised its holdings in AbbVie by 248.3% in the fourth quarter. Trilogy Capital Inc. now owns 15,824 shares of the company’s stock valued at $2,812,000 after acquiring an additional 11,281 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC boosted its stake in AbbVie by 3.3% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 33,063 shares of the company’s stock valued at $5,875,000 after acquiring an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 of the company’s stock, valued at approximately $1,202,751.92. This 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 available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $191.74 on Thursday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week 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 firm has a market cap of $338.82 billion, a P/E ratio of 79.89, a PEG ratio of 1.84 and a beta of 0.58. The business’s 50-day moving average price is $177.01 and its 200 day moving average price is $185.38.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the company earned $2.79 earnings per share. As a group, sell-side analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Piper Sandler boosted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Five 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $208.35.

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.