AbbVie Inc. (NYSE:ABBV) Stock Position Trimmed by Total Clarity Wealth Management Inc.

Total Clarity Wealth Management Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,010 shares of the company’s stock after selling 135 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in AbbVie were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. AMF Tjanstepension AB purchased a new position in shares of AbbVie in the third quarter worth approximately $8,777,000. Czech National Bank increased its position in AbbVie by 6.9% during the third quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after acquiring an additional 23,320 shares during the period. Johnson & White Wealth Management LLC increased its position in AbbVie by 4.1% during the third quarter. Johnson & White Wealth Management LLC now owns 6,116 shares of the company’s stock worth $1,208,000 after acquiring an additional 242 shares during the period. Apella Capital LLC increased its holdings in AbbVie by 6.6% in the 3rd quarter. Apella Capital LLC now owns 8,070 shares of the company’s stock valued at $1,588,000 after buying an additional 501 shares during the period. Finally, Abacus Wealth Partners LLC increased its holdings in AbbVie by 14.9% in the 3rd quarter. Abacus Wealth Partners LLC now owns 1,737 shares of the company’s stock valued at $343,000 after buying an additional 225 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 4.7 %

Shares of NYSE ABBV opened at $183.90 on Friday. The business’s fifty day moving average price is $176.43 and its 200-day moving average price is $184.84. The stock has a market capitalization of $324.98 billion, a PE ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same period in the prior year, the business earned $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 10.09 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Truist Financial cut their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Guggenheim increased their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company increased their target price on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.00.

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.