AbbVie Inc. (NYSE:ABBV) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,988 shares of the company’s stock after selling 115 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in AbbVie were worth $2,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Creekside Partners acquired a new position in shares of AbbVie in the 2nd quarter valued at $336,000. Anchor Investment Management LLC increased its position in shares of AbbVie by 0.8% in the second quarter. Anchor Investment Management LLC now owns 86,189 shares of the company’s stock worth $14,783,000 after acquiring an additional 691 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $1,158,000. Neville Rodie & Shaw Inc. lifted its position in shares of AbbVie by 5.4% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 100,915 shares of the company’s stock valued at $19,929,000 after acquiring an additional 5,172 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its stake in AbbVie by 7.5% in the 3rd quarter. M&R Capital Management Inc. now owns 16,447 shares of the company’s stock worth $3,248,000 after purchasing an additional 1,149 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Guggenheim increased their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $205.00.

Insider Activity

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

AbbVie Trading Up 0.2 %

Shares of AbbVie stock opened at $175.54 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. The company has a market cap of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58. The company’s fifty day simple moving average is $176.37 and its 200-day simple moving average is $184.90. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the previous year, the company earned $2.95 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current 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.