Sunburst Financial Group LLC Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sunburst Financial Group LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,068 shares of the company’s stock after selling 191 shares during the period. Sunburst Financial Group LLC’s holdings in AbbVie were worth $368,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $35,000. Mizuho Securities Co. Ltd. lifted its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ABBV. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Five investment 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. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Up 0.3 %

Shares of ABBV opened at $193.54 on Friday. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $342.00 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The firm has a 50 day simple moving average of $178.24 and a 200-day simple moving average of $185.91.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

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.