EverSource Wealth Advisors LLC Has $754,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

EverSource Wealth Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 45.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,862 shares of the company’s stock after selling 4,047 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in AbbVie were worth $754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ABBV. DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $44,000. Bourgeon Capital Management LLC increased its holdings in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Naples Money Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $53,000. Core Wealth Advisors Inc. increased its holdings in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new stake in AbbVie in the 4th quarter valued at $57,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ABBV shares. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Guggenheim upped their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.14.

AbbVie Stock Down 0.4 %

Shares of ABBV stock traded down $0.64 during trading hours on Thursday, reaching $158.97. The company had a trading volume of 680,582 shares, compared to its average volume of 5,477,639. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The business has a fifty day simple moving average of $168.81 and a 200-day simple moving average of $162.98. The company has a market cap of $280.72 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $2.46 earnings per share. On average, research analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 330,454 shares of company stock valued at $58,595,955. 0.25% of the stock is owned by 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.