AbbVie Inc. (NYSE:ABBV) Shares Sold by Silicon Valley Capital Partners

Silicon Valley Capital Partners reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 27.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 517 shares of the company’s stock after selling 198 shares during the period. Silicon Valley Capital Partners’ holdings in AbbVie were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. AMF Tjanstepension AB bought a new position in shares of AbbVie in the third quarter worth $8,777,000. Fiduciary Financial Group LLC bought a new position in shares of AbbVie in the third quarter worth $283,000. Montis Financial LLC bought a new position in shares of AbbVie in the third quarter worth $522,000. Cardinal Capital Management Inc. grew its stake in shares of AbbVie by 0.3% in the third quarter. Cardinal Capital Management Inc. now owns 197,427 shares of the company’s stock worth $38,988,000 after purchasing an additional 588 shares in the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of AbbVie by 3.4% in the third quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock worth $7,589,000 after purchasing an additional 1,252 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE:ABBV opened at $190.67 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock’s 50 day moving average price is $177.54 and its two-hundred day moving average price is $185.69. The firm has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last announced 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 in the prior year, the business posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABBV. 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 note on Wednesday, November 13th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler raised their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

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.