KPP Advisory Services LLC Sells 228 Shares of AbbVie Inc. (NYSE:ABBV)

KPP Advisory Services LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,317 shares of the company’s stock after selling 228 shares during the quarter. KPP Advisory Services LLC’s holdings in AbbVie were worth $824,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the fourth quarter worth $26,000. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie during the fourth quarter worth $44,000. Clear Investment Research LLC acquired a new position in AbbVie during the fourth quarter worth $48,000. Core Wealth Advisors Inc. increased its holdings in AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its holdings in AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

ABBV traded up $0.85 on Friday, hitting $169.42. 3,781,858 shares of the stock were exchanged, compared to its average volume of 4,890,198. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business has a 50-day moving average of $164.31 and a two-hundred day moving average of $164.96. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The firm has a market capitalization of $299.17 billion, a price-to-earnings ratio of 50.27, a PEG ratio of 2.17 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the prior year, the business posted $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $178.21.

AbbVie Company 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.