Live Oak Private Wealth LLC Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Live Oak Private Wealth LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,795 shares of the company’s stock after selling 639 shares during the period. Live Oak Private Wealth LLC’s holdings in AbbVie were worth $3,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GGM Financials LLC increased its position in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc boosted its holdings in shares of AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after acquiring an additional 52 shares in the last quarter. Dillon & Associates Inc. grew its position in AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares during the last quarter. Sunflower Bank N.A. increased its holdings in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after purchasing an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC raised its position in AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $192.95 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50-day moving average price is $177.19 and its 200-day moving average price is $185.43. The firm has a market capitalization of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 in the prior year, the company posted $2.79 EPS. Equities research analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In related 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 in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

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.