Investment Advisory Services Inc. TX ADV Sells 2,689 Shares of AbbVie Inc. (NYSE:ABBV)

Investment Advisory Services Inc. TX ADV trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.4% during the fourth quarter, HoldingsChannel reports. The firm owned 25,821 shares of the company’s stock after selling 2,689 shares during the quarter. AbbVie accounts for about 1.6% of Investment Advisory Services Inc. TX ADV’s investment portfolio, making the stock its 14th biggest holding. Investment Advisory Services Inc. TX ADV’s holdings in AbbVie were worth $4,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AMF Tjanstepension AB bought a new position in AbbVie in the 3rd quarter worth approximately $8,777,000. Iowa State Bank raised its stake in shares of AbbVie by 3.5% during the 3rd quarter. Iowa State Bank now owns 53,097 shares of the company’s stock valued at $10,486,000 after purchasing an additional 1,809 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in AbbVie by 44.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 109,970 shares of the company’s stock worth $21,704,000 after purchasing an additional 33,785 shares in the last quarter. Wynn Capital LLC boosted its stake in AbbVie by 2.0% in the 3rd quarter. Wynn Capital LLC now owns 8,520 shares of the company’s stock worth $1,683,000 after purchasing an additional 170 shares during the period. Finally, Fiduciary Financial Group LLC bought a new stake in shares of AbbVie during the third quarter valued at about $283,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV stock opened at $190.67 on Friday. The stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58. The firm’s 50-day moving average price is $177.54 and its two-hundred day moving average price is $185.60. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the company posted $2.79 EPS. As a group, equities analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research note on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 transaction, the senior vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.