Wellington Wealth Strategies LLC. Sells 2,475 Shares of AbbVie Inc. (NYSE:ABBV)

Wellington Wealth Strategies LLC. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 56.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,882 shares of the company’s stock after selling 2,475 shares during the quarter. Wellington Wealth Strategies LLC.’s holdings in AbbVie were worth $364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the 4th quarter worth about $29,000. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at $32,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Citigroup reaffirmed a “neutral” rating and issued a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. StockNews.com upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Finally, Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $210.95.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. This trade represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 over the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.9%

Shares of NYSE ABBV opened at $185.64 on Tuesday. The firm’s 50 day moving average price is $190.77 and its 200-day moving average price is $186.73. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $327.92 billion, a PE ratio of 77.35, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.