Centennial Wealth Advisory LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Centennial Wealth Advisory LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 7.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,029 shares of the company’s stock after selling 169 shares during the period. Centennial Wealth Advisory LLC’s holdings in AbbVie were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GGM Financials LLC raised its holdings in shares of AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after buying an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc raised its holdings in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the last quarter. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. Sunflower Bank N.A. raised its holdings in shares of AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after buying an additional 53 shares during the last quarter. Finally, Professional Financial Advisors LLC raised its holdings in shares of AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 owns 6,983 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $191.74 on Thursday. The company has a market cap of $338.82 billion, a P/E ratio of 79.89, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The business has a fifty day simple moving average of $177.01 and a 200-day simple moving average of $185.38.

AbbVie (NYSE:ABBV) last announced 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 period in the previous year, the company posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.26 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. 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 stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.