Alliance Wealth Advisors LLC UT Has $2.47 Million Stake in AbbVie Inc. (NYSE:ABBV)

Alliance Wealth Advisors LLC UT lessened its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,543 shares of the company’s stock after selling 1,812 shares during the quarter. Alliance Wealth Advisors LLC UT’s holdings in AbbVie were worth $2,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Income Solutions Inc purchased a new position in AbbVie during the 1st quarter valued at approximately $204,000. Ergoteles LLC boosted its holdings in AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock valued at $909,000 after acquiring an additional 847 shares during the period. First Western Trust Bank purchased a new position in AbbVie during the 1st quarter valued at $1,150,000. Wsfs Capital Management LLC purchased a new position in AbbVie during the 1st quarter valued at $562,000. Finally, Bridgewater Associates LP boosted its holdings in AbbVie by 80.4% during the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock valued at $12,242,000 after acquiring an additional 33,661 shares during the period. Institutional investors own 67.86% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 2,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $8,649,312.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of recent research reports. Morgan Stanley upped their target price on AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on AbbVie in a research note on Thursday, November 9th. They set a “hold” rating and a $150.00 target price for the company. UBS Group dropped their price objective on AbbVie from $157.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, HSBC downgraded AbbVie from a “buy” rating to a “hold” rating and decreased their price target for the stock from $167.00 to $156.00 in a report on Monday, December 18th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.36.

Get Our Latest Stock Analysis on ABBV

AbbVie Trading Up 0.1 %

AbbVie stock opened at $174.25 on Monday. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $175.91. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96. The firm has a market cap of $313.65 billion, a price-to-earnings ratio of 63.77, a price-to-earnings-growth ratio of 2.21 and a beta of 0.57. The firm’s 50 day moving average price is $159.86 and its two-hundred day moving average price is $151.31.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 154.73%. The company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the business posted $3.60 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, research analysts predict that AbbVie Inc. will post 11.14 EPS for the current fiscal year.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

See Also

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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