Soltis Investment Advisors LLC Sells 26,822 Shares of AbbVie Inc. (NYSE:ABBV)

Soltis Investment Advisors LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 56.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,636 shares of the company’s stock after selling 26,822 shares during the period. Soltis Investment Advisors LLC’s holdings in AbbVie were worth $3,667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in shares of AbbVie in the fourth quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in 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 buying an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Citigroup raised their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Raymond James reissued an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Finally, BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of ABBV stock opened at $190.67 on Monday. The stock has a 50 day moving average price of $177.54 and a 200 day moving average price of $185.69. The firm has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.53 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 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 quarter in the previous year, the business earned $2.79 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current 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.