Asset Dedication LLC Sells 4,388 Shares of AbbVie Inc. (NYSE:ABBV)

Asset Dedication LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,826 shares of the company’s stock after selling 4,388 shares during the period. Asset Dedication LLC’s holdings in AbbVie were worth $2,101,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Groupama Asset Managment boosted its position 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 acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter valued at $28,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.1 %

Shares of ABBV opened at $174.88 on Wednesday. The company has a market capitalization of $309.04 billion, a P/E ratio of 60.72, a PEG ratio of 1.68 and a beta of 0.58. 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 one year low of $153.58 and a one year high of $207.32. The business’s 50 day simple moving average is $176.05 and its 200-day simple moving average is $184.94.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business 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%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. 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. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, Guggenheim lifted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie 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.