Total Clarity Wealth Management Inc. Has $1.07 Million Position in AbbVie Inc. (NYSE:ABBV)

Total Clarity Wealth Management Inc. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm 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 SEC filing.

Other institutional investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the third quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter worth $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter valued at $35,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ABBV shares. Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley cut their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Bank of America restated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. BMO Capital Markets decreased their target price on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Citigroup decreased their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $183.90 on Friday. The firm has a 50 day moving average of $176.43 and a 200 day moving average of $184.84. The company has a market capitalization of $324.98 billion, a price-to-earnings ratio of 63.85, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 quarter last year, the company posted $2.79 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Insider Buying and Selling

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

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.