AbbVie Inc. (NYSE:ABBV) Stock Holdings Cut by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,552 shares of the company’s stock after selling 146 shares during the period. Elevation Wealth Partners LLC’s holdings in AbbVie were worth $987,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB acquired a new stake in shares of AbbVie during the 3rd quarter valued at $8,777,000. Fiduciary Financial Group LLC acquired a new stake in shares of AbbVie during the third quarter worth $283,000. Montis Financial LLC purchased a new stake in shares of AbbVie during the third quarter valued at $522,000. Cardinal Capital Management Inc. boosted its position 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 purchasing an additional 588 shares during the period. Finally, Carnegie Investment Counsel increased its stake in AbbVie by 3.4% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $190.67 on Monday. The company has a 50 day moving average price of $177.54 and a two-hundred day moving average price of $185.69. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 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 (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm earned $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on 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 approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. Piper Sandler lifted their price objective 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. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Five 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.