Sequoia Financial Advisors LLC Has $5.84 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Sequoia Financial Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,162 shares of the company’s stock after purchasing an additional 1,599 shares during the period. Sequoia Financial Advisors LLC’s holdings in AbbVie were worth $5,837,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Goepper Burkhardt LLC increased its holdings in AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after purchasing an additional 67 shares during the period. Vantage Consulting Group Inc increased its position in shares of AbbVie by 4.2% during the second quarter. Vantage Consulting Group Inc now owns 1,667 shares of the company’s stock valued at $225,000 after buying an additional 67 shares during the period. Syntax Advisors LLC increased its position in shares of AbbVie by 4.2% during the second quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock valued at $225,000 after buying an additional 67 shares during the period. Clearwater Capital Advisors LLC increased its position in shares of AbbVie by 3.9% during the third quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after buying an additional 69 shares during the period. Finally, Founders Capital Management LLC increased its position in shares of AbbVie by 0.3% during the third quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock valued at $3,417,000 after buying an additional 70 shares during the period. Institutional investors own 67.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 2,912 shares of the company’s 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 in the company, valued at approximately $8,649,312.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday. HSBC cut AbbVie from a “buy” rating to a “hold” rating and cut their target price for the stock from $167.00 to $156.00 in a research note on Monday, December 18th. Morgan Stanley increased their target price on AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Truist Financial increased their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets increased their target price on AbbVie from $187.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.47.

Check Out Our Latest Analysis on AbbVie

AbbVie Price Performance

NYSE:ABBV traded up $0.42 during trading hours on Tuesday, hitting $171.68. 813,739 shares of the stock traded hands, compared to its average volume of 5,294,017. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $173.13. The company has a market cap of $309.02 billion, a price-to-earnings ratio of 62.89, a price-to-earnings-growth ratio of 3.04 and a beta of 0.57. The stock has a 50 day moving average price of $157.16 and a 200 day moving average price of $150.42.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, February 2nd. The company reported $2.79 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 company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period in the previous year, the firm earned $3.60 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 11.11 EPS for the current fiscal year.

About AbbVie

(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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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