AbbVie Inc. (NYSE:ABBV) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,119 shares of the company’s stock after selling 1,261 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in AbbVie were worth $29,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Groupama Asset Managment raised its holdings in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the third quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of AbbVie stock opened at $189.97 on Wednesday. The stock has a market capitalization of $335.71 billion, a price-to-earnings ratio of 79.16, a PEG ratio of 1.84 and a beta of 0.58. The firm’s fifty day simple moving average is $176.84 and its 200-day simple moving average is $185.26. 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 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the business earned $2.79 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ABBV. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AbbVie presently 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.