Asset Dedication LLC Sells 4,388 Shares of AbbVie Inc. (NYSE:ABBV)

Asset Dedication LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 27.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 11,826 shares of the company’s stock after selling 4,388 shares during the period. Asset Dedication LLC’s holdings in AbbVie were worth $2,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter valued at $39,000. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Wells Fargo & Company upped their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Barclays upped their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Sanford C. Bernstein began 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. Finally, Leerink Partners raised shares of 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. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Stock Down 1.1 %

Shares of ABBV stock opened at $174.88 on Wednesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm’s 50-day moving average is $176.05 and its 200-day moving average is $184.94. The stock has a market cap of $309.04 billion, a price-to-earnings ratio of 60.72, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company 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%. AbbVie’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. Sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current year.

About AbbVie

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.