AbbVie Inc. (NYSE:ABBV) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 22.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,656 shares of the company’s stock after selling 756 shares during the quarter. Crewe Advisors LLC’s holdings in AbbVie were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $35,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie in the third quarter valued at approximately $39,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ABBV. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

Shares of ABBV opened at $191.74 on Thursday. 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 stock has a market capitalization of $338.82 billion, a P/E ratio of 79.89, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm’s 50 day moving average is $177.01 and its 200-day moving average is $185.38.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the firm posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.26 EPS 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.