Appleton Partners Inc. MA Has $7.09 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Appleton Partners Inc. MA cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,921 shares of the company’s stock after selling 671 shares during the period. Appleton Partners Inc. MA’s holdings in AbbVie were worth $7,094,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABBV. Groupama Asset Managment raised its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the fourth quarter valued at 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 valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Finally, Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 1.2 %

NYSE ABBV opened at $190.67 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s fifty day moving average is $177.38 and its 200-day moving average is $185.48. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly 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 in the previous year, the business posted $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

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.