Kingsview Wealth Management LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

Kingsview Wealth Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,602 shares of the company’s stock after selling 5,499 shares during the period. Kingsview Wealth Management LLC’s holdings in AbbVie were worth $12,191,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its position in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. grew its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.2 %

NYSE:ABBV opened at $190.67 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.84 and a beta of 0.58. 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 business’s 50-day moving average price is $177.38 and its two-hundred day moving average price is $185.48.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the prior year, the firm posted $2.79 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was 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 owns 6,983 shares of the company’s stock, 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 can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABBV. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut their price objective 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. 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.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $208.35.

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.