MBA Advisors LLC Sells 486 Shares of AbbVie Inc. (NYSE:ABBV)

MBA Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,744 shares of the company’s stock after selling 486 shares during the period. MBA Advisors LLC’s holdings in AbbVie were worth $1,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AMF Tjanstepension AB bought a new stake in shares of AbbVie during the third quarter worth approximately $8,777,000. Fiduciary Financial Group LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at about $283,000. Montis Financial LLC bought a new stake in AbbVie in the 3rd quarter valued at approximately $522,000. Cardinal Capital Management Inc. boosted its holdings in shares of AbbVie by 0.3% in the 3rd quarter. Cardinal Capital Management Inc. now owns 197,427 shares of the company’s stock valued at $38,988,000 after buying an additional 588 shares during the last quarter. Finally, Carnegie Investment Counsel grew its holdings in AbbVie by 3.4% during the third quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock worth $7,589,000 after purchasing an additional 1,252 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Guggenheim raised their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $190.67 on Monday. The stock’s 50 day moving average price is $177.54 and its two-hundred day moving average price is $185.69. The stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. 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 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business earned $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

AbbVie Company 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.