Alpha Omega Wealth Management LLC Decreases Stock Position in AbbVie Inc. (NYSE:ABBV)

Alpha Omega Wealth Management LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 54,660 shares of the company’s stock after selling 351 shares during the period. AbbVie accounts for about 1.8% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 8th largest position. Alpha Omega Wealth Management LLC’s holdings in AbbVie were worth $9,713,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie in the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the 4th quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent research reports. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Truist Financial cut their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 4.7 %

NYSE:ABBV opened at $183.90 on Friday. The company has a market cap of $324.98 billion, a P/E ratio of 63.85, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a 50 day moving average price of $176.57 and a two-hundred day moving average price of $184.95. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its earnings results 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 return on equity of 244.01% and a net margin of 9.22%. During the same quarter last year, the firm posted $2.79 EPS. As a group, analysts expect that AbbVie Inc. will post 10.09 EPS for the current fiscal 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.