Brandywine Oak Private Wealth LLC Sells 1,465 Shares of AbbVie Inc. (NYSE:ABBV)

Brandywine Oak Private Wealth LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,041 shares of the company’s stock after selling 1,465 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in AbbVie were worth $2,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kercheville Advisors LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $217,000. Trilogy Capital Inc. raised its holdings in shares of AbbVie by 248.3% during the fourth quarter. Trilogy Capital Inc. now owns 15,824 shares of the company’s stock valued at $2,812,000 after acquiring an additional 11,281 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in shares of AbbVie by 3.3% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 33,063 shares of the company’s stock valued at $5,875,000 after acquiring an additional 1,045 shares in the last quarter. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of AbbVie by 9.7% during the fourth quarter. Benchmark Financial Wealth Advisors LLC now owns 3,071 shares of the company’s stock valued at $546,000 after acquiring an additional 272 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC raised its holdings in AbbVie by 7.8% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 5,523 shares of the company’s stock worth $981,000 after purchasing an additional 399 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, 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 can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.9 %

NYSE ABBV opened at $191.74 on Thursday. The stock’s 50-day moving average price is $177.01 and its 200-day moving average price is $185.38. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a market capitalization of $338.82 billion, a P/E ratio of 79.89, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 period in the prior year, the company posted $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analysts Set New Price Targets

ABBV has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Finally, Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie 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.