Westbourne Investment Advisors Inc. Sells 65 Shares of AbbVie Inc. (NYSE:ABBV)

Westbourne Investment Advisors Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,285 shares of the company’s stock after selling 65 shares during the quarter. Westbourne Investment Advisors Inc.’s holdings in AbbVie were worth $1,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB bought a new position in AbbVie in the 3rd quarter valued at $8,777,000. WealthBridge Investment Counsel Inc. lifted its holdings in AbbVie by 0.5% in the 3rd quarter. WealthBridge Investment Counsel Inc. now owns 36,746 shares of the company’s stock worth $7,257,000 after buying an additional 195 shares during the period. Keeler & Nadler Financial Planning & Wealth Management bought a new stake in AbbVie in the third quarter valued at $226,000. Watts Gwilliam & Co. LLC bought a new position in AbbVie in the third quarter worth about $3,110,000. Finally, Merrion Investment Management Co LLC lifted its stake in shares of AbbVie by 7.7% in the 3rd quarter. Merrion Investment Management Co LLC now owns 7,000 shares of the company’s stock valued at $1,382,000 after purchasing an additional 500 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $190.67 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 stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock’s 50-day moving average price is $177.38 and its 200-day moving average price is $185.48.

AbbVie (NYSE:ABBV) last posted 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the company earned $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Truist Financial increased their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was 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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.