Alta Wealth Advisors LLC Trims Stake in AbbVie Inc. (NYSE:ABBV)

Alta Wealth Advisors LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,901 shares of the company’s stock after selling 138 shares during the quarter. Alta Wealth Advisors LLC’s holdings in AbbVie were worth $1,404,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter worth about $35,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at about $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $175.54 on Friday. The company has a market cap of $310.21 billion, a PE ratio of 60.95, a P/E/G ratio of 1.77 and a beta of 0.58. The stock has a fifty day moving average price of $176.37 and a 200 day moving average price of $184.90. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABBV shares. Citigroup decreased their price target on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $205.00.

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.