Alpine Woods Capital Investors LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Alpine Woods Capital Investors LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 3.6% in the third quarter, Holdings Channel reports. The firm owned 52,698 shares of the company’s stock after selling 1,948 shares during the quarter. AbbVie accounts for 1.3% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 23rd biggest holding. Alpine Woods Capital Investors LLC’s holdings in AbbVie were worth $7,855,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Miller Wealth Advisors LLC increased its holdings in shares of AbbVie by 140.0% in the 2nd quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie in the third quarter worth approximately $36,000. VitalStone Financial LLC raised its holdings in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after purchasing an additional 166 shares during the last quarter. True Wealth Design LLC bought a new position in AbbVie during the fourth quarter valued at approximately $39,000. Finally, KB Financial Partners LLC bought a new stake in AbbVie in the 1st quarter worth approximately $45,000. 67.86% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of AbbVie stock traded up $3.12 during trading on Monday, reaching $171.79. 1,956,209 shares of the stock traded hands, compared to its average volume of 5,298,466. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $173.13. The company has a debt-to-equity ratio of 4.59, a current ratio of 0.96 and a quick ratio of 0.84. The business has a fifty day simple moving average of $156.52 and a two-hundred day simple moving average of $150.21. The company has a market capitalization of $309.22 billion, a price-to-earnings ratio of 63.07, a P/E/G ratio of 3.04 and a beta of 0.57.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.03. AbbVie had a return on equity of 154.73% and a net margin of 8.95%. The business had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same quarter in the previous year, the company posted $3.60 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts expect that AbbVie Inc. will post 11.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target on the stock in a research note on Monday, December 11th. Deutsche Bank Aktiengesellschaft began coverage on AbbVie in a research note on Thursday, November 9th. They set a “hold” rating and a $150.00 price target for the company. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $167.00 to $156.00 in a report on Monday, December 18th. UBS Group reduced their target price on shares of AbbVie from $157.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.00.

Get Our Latest Stock Report on ABBV

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 2,912 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $8,649,312.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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