SMART Wealth LLC Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

SMART Wealth LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 25.8% in the fourth quarter, Holdings Channel reports. The fund owned 1,147 shares of the company’s stock after selling 398 shares during the quarter. SMART Wealth LLC’s holdings in AbbVie were worth $204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $35,000. Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in AbbVie in the 3rd quarter valued at approximately $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $192.95 on Friday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company’s 50-day moving average is $177.19 and its 200 day moving average is $185.43. The firm has a market capitalization of $340.96 billion, a P/E ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial lifted their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday. Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five research 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’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Buying and Selling at AbbVie

In other 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 transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.

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.