Silverlake Wealth Management LLC Sells 966 Shares of AbbVie Inc. (NYSE:ABBV)

Silverlake Wealth Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,912 shares of the company’s stock after selling 966 shares during the quarter. Silverlake Wealth Management LLC’s holdings in AbbVie were worth $1,584,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Cassia Capital Partners LLC increased its position in shares of AbbVie by 38.1% during the 4th quarter. Cassia Capital Partners LLC now owns 6,058 shares of the company’s stock worth $1,077,000 after purchasing an additional 1,671 shares during the last quarter. 1858 Wealth Management LLC increased its position in shares of AbbVie by 9.2% during the 4th quarter. 1858 Wealth Management LLC now owns 4,523 shares of the company’s stock worth $804,000 after purchasing an additional 381 shares during the last quarter. Tanager Wealth Management LLP increased its position in shares of AbbVie by 20.5% during the 4th quarter. Tanager Wealth Management LLP now owns 3,507 shares of the company’s stock worth $623,000 after purchasing an additional 596 shares during the last quarter. James J. Burns & Company LLC increased its position in shares of AbbVie by 29.0% during the 4th quarter. James J. Burns & Company LLC now owns 1,766 shares of the company’s stock worth $313,000 after purchasing an additional 397 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of AbbVie by 3.3% during the 4th quarter. Mather Group LLC. now owns 29,734 shares of the company’s stock worth $5,284,000 after acquiring an additional 950 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $189.97 on Wednesday. The stock has a fifty day moving average price of $176.84 and a 200-day moving average price of $185.26. The company has a market cap of $335.71 billion, a price-to-earnings ratio of 79.16, a PEG ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last released 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the company earned $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.35.

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.