Naples Global Advisors LLC Sells 169 Shares of AbbVie Inc. (NYSE:ABBV)

Naples Global Advisors LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 48,773 shares of the company’s stock after selling 169 shares during the quarter. AbbVie accounts for approximately 0.8% of Naples Global Advisors LLC’s portfolio, making the stock its 20th biggest position. Naples Global Advisors LLC’s holdings in AbbVie were worth $8,667,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABBV. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. grew its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie during the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.6 %

Shares of NYSE:ABBV opened at $193.06 on Thursday. The business’s 50-day moving average is $177.91 and its 200 day moving average is $185.86. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a market capitalization of $341.16 billion, a P/E ratio of 80.44, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the company posted $2.79 EPS. On average, research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. BMO Capital Markets increased their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Finally, Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five investment 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 currently has an average rating of “Moderate Buy” and an average 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.