Weatherly Asset Management L. P. Has $1.76 Million Stake in AbbVie Inc. (NYSE:ABBV)

Weatherly Asset Management L. P. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,918 shares of the company’s stock after selling 92 shares during the quarter. Weatherly Asset Management L. P.’s holdings in AbbVie were worth $1,762,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of AbbVie in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Wells Fargo & Company boosted their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $190.31 on Tuesday. The company has a market capitalization of $336.30 billion, a P/E ratio of 79.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. 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 firm has a 50 day moving average of $177.54 and a 200 day moving average of $185.75. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the company posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

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.