Guardian Asset Advisors LLC Decreases Position in AbbVie Inc. (NYSE:ABBV)

Guardian Asset Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,334 shares of the company’s stock after selling 247 shares during the quarter. Guardian Asset Advisors LLC’s holdings in AbbVie were worth $771,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB purchased a new stake in shares of AbbVie during the third quarter worth about $8,777,000. Creative Planning grew its stake in AbbVie by 5.8% during the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after purchasing an additional 40,925 shares in the last quarter. Swedbank AB increased its holdings in AbbVie by 0.3% during the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares during the last quarter. Luts & Greenleigh Group Inc. raised its position in shares of AbbVie by 1.0% in the 3rd quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock valued at $2,717,000 after purchasing an additional 131 shares in the last quarter. Finally, Magnus Financial Group LLC boosted its stake in shares of AbbVie by 10.2% during the 3rd quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock valued at $1,773,000 after buying an additional 829 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of ABBV stock opened at $193.06 on Thursday. The business has a 50 day simple moving average of $178.24 and a 200 day simple moving average of $185.91. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $341.16 billion, a price-to-earnings ratio of 80.44, a price-to-earnings-growth 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 issued its quarterly 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 net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business earned $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley lifted their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five investment 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value 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 $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by insiders.

AbbVie 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.