Brandywine Oak Private Wealth LLC Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Brandywine Oak Private Wealth LLC lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,041 shares of the company’s stock after selling 1,465 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in AbbVie were worth $2,140,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC bought a new stake in AbbVie during the 3rd quarter valued at $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. raised its position in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its position in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Up 0.9 %

Shares of ABBV opened at $191.74 on Thursday. 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 has a market capitalization of $338.82 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 1.84 and a beta of 0.58. The stock’s 50-day moving average price is $177.01 and its 200-day moving average price is $185.38.

AbbVie (NYSE:ABBV) last issued 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

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.