AbbVie Inc. (NYSE:ABBV) is Alpha Omega Wealth Management LLC’s 8th Largest Position

Alpha Omega Wealth Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,660 shares of the company’s stock after selling 351 shares during the quarter. AbbVie makes up approximately 1.8% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 8th largest holding. Alpha Omega Wealth Management LLC’s holdings in AbbVie were worth $9,713,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

NYSE ABBV opened at $183.90 on Friday. The firm 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. The stock’s 50-day moving average is $176.57 and its two-hundred day moving average is $184.95. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. 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 (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the firm posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on ABBV shares. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, 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. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.