Mark Sheptoff Financial Planning LLC Has $4.07 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Mark Sheptoff Financial Planning LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,268 shares of the company’s stock after selling 100 shares during the period. AbbVie makes up approximately 2.5% of Mark Sheptoff Financial Planning LLC’s investment portfolio, making the stock its 10th biggest holding. Mark Sheptoff Financial Planning LLC’s holdings in AbbVie were worth $4,071,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $44,000. 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 valued at $52,000 after buying an additional 285 shares during the period. 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 valued at $53,000 after buying an additional 240 shares during the period. Naples Money Management LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $53,000. Finally, Rakuten Securities Inc. purchased a new position in AbbVie during the fourth quarter valued at approximately $57,000. Institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports 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 price objective on the stock. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.14.

AbbVie Stock Performance

NYSE ABBV traded down $0.50 on Thursday, reaching $159.11. 2,410,809 shares of the company’s stock traded hands, compared to its average volume of 5,495,708. The firm has a market cap of $280.97 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.09 and a beta of 0.61. The stock has a 50 day moving average price of $168.81 and a 200-day moving average price of $162.98. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 earnings per share. Equities research analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Insiders sold 330,454 shares of company stock worth $58,595,955 over the last three months. Company insiders own 0.25% of the company’s stock.

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.