Stratos Wealth Advisors LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Stratos Wealth Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,159 shares of the company’s stock after acquiring an additional 58 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in AbbVie were worth $4,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ABBV. Groupama Asset Managment lifted its position 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 acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC purchased a new position in shares of AbbVie in the third quarter valued at $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Citigroup lifted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley increased their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five research 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 stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Down 0.1 %

ABBV opened at $189.97 on Wednesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $335.71 billion, a PE ratio of 79.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The stock’s fifty day simple moving average is $176.84 and its 200 day simple moving average is $185.26. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current 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.