Investment Advisory Services Inc. TX ADV Has $4.59 Million Stake in AbbVie Inc. (NYSE:ABBV)

Investment Advisory Services Inc. TX ADV cut its position in AbbVie Inc. (NYSE:ABBV) by 9.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 portfolio, making the stock its 14th largest holding. Investment Advisory Services Inc. TX ADV’s holdings in AbbVie were worth $4,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth $35,000. Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in AbbVie in the third quarter valued at about $39,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research analyst reports. 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. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. 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. Raymond James restated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Five 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Price Performance

ABBV stock opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company’s 50-day moving average is $177.54 and its 200-day moving average is $185.60. 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 (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 prior year, the company posted $2.79 EPS. Equities research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.