Atlantic Edge Private Wealth Management LLC Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Atlantic Edge Private Wealth Management LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 4.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,751 shares of the company’s stock after selling 124 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in AbbVie were worth $489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment increased 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 valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. increased its position in 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 purchasing an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.2 %

NYSE:ABBV opened at $190.31 on Tuesday. The stock’s fifty day moving average price is $177.54 and its two-hundred day moving average price is $185.75. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $336.30 billion, a price-to-earnings ratio of 79.29, 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 return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company posted $2.79 EPS. On average, analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Raymond James restated an “outperform” rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. 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 target for the company. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

About AbbVie

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.