Calton & Associates Inc. Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Calton & Associates Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 19.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,561 shares of the company’s stock after selling 847 shares during the period. Calton & Associates Inc.’s holdings in AbbVie were worth $633,000 at the end of the most recent quarter.

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

AbbVie Trading Up 0.2 %

Shares of ABBV opened at $175.54 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market cap of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58. The firm has a 50 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 quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. BMO Capital Markets cut their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Truist Financial reduced their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Finally, UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by company 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.