Leo Wealth LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Leo Wealth LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,159 shares of the company’s stock after selling 1,069 shares during the period. Leo Wealth LLC’s holdings in AbbVie were worth $3,760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Encompass Wealth Advisors LLC increased its holdings in AbbVie by 5.7% in the 4th quarter. Encompass Wealth Advisors LLC now owns 2,056 shares of the company’s stock worth $365,000 after buying an additional 110 shares during the period. Consolidated Portfolio Review Corp increased its stake in shares of AbbVie by 24.4% in the fourth quarter. Consolidated Portfolio Review Corp now owns 1,986 shares of the company’s stock worth $353,000 after acquiring an additional 389 shares during the period. Eagle Ridge Investment Management raised its holdings in shares of AbbVie by 0.4% during the fourth quarter. Eagle Ridge Investment Management now owns 69,581 shares of the company’s stock worth $12,365,000 after purchasing an additional 311 shares during the last quarter. Silver Oak Securities Incorporated lifted its position in AbbVie by 53.4% during the fourth quarter. Silver Oak Securities Incorporated now owns 6,115 shares of the company’s stock valued at $1,077,000 after purchasing an additional 2,128 shares during the period. Finally, Beacon Financial Advisory LLC boosted its holdings in AbbVie by 4.0% in the fourth quarter. Beacon Financial Advisory LLC now owns 8,704 shares of the company’s stock valued at $1,547,000 after purchasing an additional 336 shares during the last quarter. 70.23% of the stock is currently 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 firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value 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 $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Morgan Stanley boosted their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday. Wolfe Research assumed coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Leerink Partners upgraded 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. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Up 0.6 %

Shares of ABBV opened at $192.95 on Friday. The stock has a 50 day moving average price of $177.19 and a 200 day moving average price of $185.43. 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 stock has a market capitalization of $340.96 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last issued 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal 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.