Atlantic Edge Private Wealth Management LLC Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Atlantic Edge Private Wealth Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,751 shares of the company’s stock after selling 124 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in AbbVie were worth $489,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its holdings in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC boosted its holdings in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the topic of a number of recent analyst reports. Guggenheim increased their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. decreased their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on 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. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

AbbVie Trading Down 0.2 %

NYSE ABBV opened at $190.31 on Tuesday. The firm has a 50 day simple moving average of $177.54 and a 200-day simple moving average of $185.75. 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 one year low of $153.58 and a one year high of $207.32. The firm has a market cap of $336.30 billion, a price-to-earnings ratio of 79.29, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 quarter in the previous year, the business posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

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.