Soltis Investment Advisors LLC Buys 540 Shares of AbbVie Inc. (NYSE:ABBV)

Soltis Investment Advisors LLC boosted its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,330 shares of the company’s stock after acquiring an additional 540 shares during the period. Soltis Investment Advisors LLC’s holdings in AbbVie were worth $3,030,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of AbbVie by 0.3% in the second quarter. BlackRock Inc. now owns 139,161,796 shares of the company’s stock valued at $18,749,269,000 after purchasing an additional 440,286 shares during the period. State Street Corp increased its holdings in AbbVie by 1.5% during the 2nd quarter. State Street Corp now owns 78,182,567 shares of the company’s stock worth $10,533,537,000 after acquiring an additional 1,156,130 shares during the period. Capital International Investors increased its holdings in AbbVie by 0.9% during the 2nd quarter. Capital International Investors now owns 43,152,741 shares of the company’s stock worth $5,813,873,000 after acquiring an additional 404,379 shares during the period. Geode Capital Management LLC grew its stake in AbbVie by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 34,952,938 shares of the company’s stock worth $4,697,046,000 after buying an additional 907,917 shares in the last quarter. Finally, Morgan Stanley grew its stake in AbbVie by 17.9% in the 4th quarter. Morgan Stanley now owns 31,571,750 shares of the company’s stock worth $5,102,311,000 after buying an additional 4,785,277 shares in the last quarter. Institutional investors own 67.86% of the company’s stock.

AbbVie Trading Up 1.9 %

NYSE ABBV traded up $3.16 during trading on Monday, hitting $171.83. The company had a trading volume of 1,744,004 shares, compared to its average volume of 5,288,951. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 4.59. AbbVie Inc. has a one year low of $130.96 and a one year high of $173.13. The company has a market cap of $309.29 billion, a price-to-earnings ratio of 63.07, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The company’s fifty day moving average is $156.52 and its 200-day moving average is $150.21.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 price target for the company in a research note on Monday, December 11th. Raymond James boosted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday. Barclays boosted their price target on shares of AbbVie from $175.00 to $185.00 and gave the stock an “overweight” rating in a research note on Monday. BMO Capital Markets upped their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday. Finally, HSBC cut shares of AbbVie from a “buy” rating to a “hold” rating and cut their price objective for the company from $167.00 to $156.00 in a research note on Monday, December 18th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $170.00.

Get Our Latest Stock Report on AbbVie

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 2,912 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $8,649,312.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

AbbVie 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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