Walter & Keenan Wealth Management LLC IN ADV Sells 217 Shares of AbbVie Inc. (NYSE:ABBV)

Walter & Keenan Wealth Management LLC IN ADV reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,816 shares of the company’s stock after selling 217 shares during the period. AbbVie comprises approximately 1.4% of Walter & Keenan Wealth Management LLC IN ADV’s portfolio, making the stock its 20th biggest position. Walter & Keenan Wealth Management LLC IN ADV’s holdings in AbbVie were worth $4,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ABBV. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $35,000. Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie during the third quarter worth about $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

AbbVie stock opened at $190.67 on Monday. The firm has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. 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 business has a fifty day moving average price of $177.54 and a 200-day moving average price of $185.69.

AbbVie (NYSE:ABBV) last issued its earnings results 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the company posted $2.79 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is 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.