Sageworth Trust Co Sells 743 Shares of AbbVie Inc. (NYSE:ABBV)

Sageworth Trust Co lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,950 shares of the company’s stock after selling 743 shares during the period. AbbVie accounts for 0.2% of Sageworth Trust Co’s holdings, making the stock its 25th biggest position. Sageworth Trust Co’s holdings in AbbVie were worth $3,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the 4th quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% during 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 during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 1.2 %

Shares of NYSE ABBV opened at $190.67 on Friday. The firm has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company’s 50-day simple moving average is $177.38 and its 200-day simple moving average is $185.48. 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 (NYSE:ABBV) last announced its 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 last year, the firm posted $2.79 EPS. Equities analysts predict that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ABBV. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Citigroup boosted their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

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.