Richwood Investment Advisors LLC Reduces Position in AbbVie Inc. (NYSE:ABBV)

Richwood Investment Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,673 shares of the company’s stock after selling 125 shares during the quarter. Richwood Investment Advisors LLC’s holdings in AbbVie were worth $259,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Alpha Family Trust boosted its stake in shares of AbbVie by 13.6% during the fourth quarter. Alpha Family Trust now owns 4,375 shares of the company’s stock valued at $678,000 after purchasing an additional 525 shares during the period. Financial Advisors Network Inc. raised its holdings in shares of AbbVie by 65.6% during the fourth quarter. Financial Advisors Network Inc. now owns 2,636 shares of the company’s stock valued at $409,000 after acquiring an additional 1,044 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $2,435,000. Central Valley Advisors LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $327,000. Finally, Ogorek Anthony Joseph NY ADV raised its holdings in shares of AbbVie by 8.5% during the fourth quarter. Ogorek Anthony Joseph NY ADV now owns 1,276 shares of the company’s stock valued at $197,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ABBV. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Truist Financial increased their price objective on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, Cantor Fitzgerald assumed coverage on AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.14.

AbbVie Stock Performance

NYSE:ABBV traded down $3.32 on Wednesday, hitting $159.61. The stock had a trading volume of 6,893,762 shares, compared to its average volume of 5,527,882. The stock has a market cap of $281.85 billion, a price-to-earnings ratio of 47.44, a price-to-earnings-growth ratio of 2.08 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The business’s 50-day simple moving average is $169.22 and its two-hundred day simple moving average is $163.00. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Activity at AbbVie

In related news, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the sale, the executive vice president now owns 28,173 shares of the company’s stock, valued at approximately $5,000,989.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total value of $2,441,295.03. Following the completion of the sale, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 330,454 shares of company stock valued at $58,595,955. 0.25% of the stock is owned by company insiders.

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.