Independent Advisor Alliance Has $18.78 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Independent Advisor Alliance lifted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,167 shares of the company’s stock after buying an additional 473 shares during the period. Independent Advisor Alliance’s holdings in AbbVie were worth $18,777,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABBV. Aspen Wealth Strategies LLC raised its position in AbbVie by 0.5% during the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after purchasing an additional 63 shares during the period. Avion Wealth lifted its stake in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after purchasing an additional 65 shares during the last quarter. White Pine Capital LLC grew its holdings in AbbVie by 1.2% during the fourth quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after purchasing an additional 65 shares during the period. Finally, JNBA Financial Advisors increased its position in AbbVie by 0.7% during the fourth quarter. JNBA Financial Advisors now owns 9,208 shares of the company’s stock worth $1,427,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Guggenheim lifted their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday. They set an “overweight” rating and a $200.00 target price on the stock. Three research 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. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

View Our Latest Report on AbbVie

AbbVie Price Performance

ABBV traded up $2.07 on Friday, hitting $166.42. 5,152,176 shares of the stock were exchanged, compared to its average volume of 5,284,928. The firm has a market capitalization of $293.88 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 2.10 and a beta of 0.61. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business has a 50-day moving average of $169.88 and a two-hundred day moving average of $162.56.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,233,546.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Perry C. Siatis sold 9,891 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $177.39, for a total transaction of $1,754,564.49. Following the sale, the executive vice president now owns 10,397 shares of the company’s stock, valued at approximately $1,844,323.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock worth $67,780,003 in the last ninety days. 0.25% of the stock is owned by insiders.

AbbVie Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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