Mill Creek Capital Advisors LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Mill Creek Capital Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,126 shares of the company’s stock after selling 141 shares during the period. Mill Creek Capital Advisors LLC’s holdings in AbbVie were worth $555,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $35,000. Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of AbbVie in the third quarter worth $39,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value 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. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.2 %

Shares of NYSE ABBV opened at $190.31 on Tuesday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company’s 50-day simple moving average is $177.54 and its 200-day simple moving average is $185.75. The firm has a market cap of $336.30 billion, a price-to-earnings ratio of 79.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results 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 last year, the firm posted $2.79 EPS. Equities analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. 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. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Five equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

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.