AbbVie Inc. (NYSE:ABBV) Shares Sold by Prairie Wealth Advisors Inc.

Prairie Wealth Advisors Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,247 shares of the company’s stock after selling 60 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in AbbVie were worth $399,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.6 %

Shares of NYSE ABBV opened at $192.95 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market cap of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58. The stock has a fifty day moving average price of $177.19 and a 200 day moving average price of $185.43.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company posted $2.79 EPS. Research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. Finally, Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $208.35.

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.