AbbVie Inc. (NYSE:ABBV) Shares Sold by abrdn plc

abrdn plc lessened its stake in AbbVie Inc. (NYSE:ABBV) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,761,831 shares of the company’s stock after selling 224,833 shares during the period. AbbVie accounts for about 0.6% of abrdn plc’s holdings, making the stock its 26th biggest position. abrdn plc’s holdings in AbbVie were worth $310,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Alliance Wealth Advisors LLC UT boosted its holdings in AbbVie by 2.7% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 18,040 shares of the company’s stock valued at $3,206,000 after purchasing an additional 480 shares in the last quarter. Vantage Point Financial LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $205,000. Fourpath Capital Management LLC boosted its stake in shares of AbbVie by 13.4% during the 4th quarter. Fourpath Capital Management LLC now owns 7,426 shares of the company’s stock worth $1,320,000 after acquiring an additional 876 shares in the last quarter. Optas LLC boosted its stake in shares of AbbVie by 6.8% during the 4th quarter. Optas LLC now owns 4,824 shares of the company’s stock worth $857,000 after acquiring an additional 309 shares in the last quarter. Finally, Holistic Planning LLC boosted its stake in shares of AbbVie by 27.6% during the 4th quarter. Holistic Planning LLC now owns 1,354 shares of the company’s stock worth $241,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 3.4 %

Shares of NYSE ABBV opened at $190.20 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market cap of $336.12 billion, a P/E ratio of 79.25, a P/E/G 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 stock has a fifty day moving average price of $176.57 and a 200 day moving average price of $185.13.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 last year, the company earned $2.79 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. decreased their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated 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 directly owns 6,983 shares in the company, valued at $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 is available at this hyperlink. 0.25% of the stock is owned by insiders.

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.