CreativeOne Wealth LLC Has $2.08 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

CreativeOne Wealth LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 21.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,403 shares of the company’s stock after selling 3,606 shares during the quarter. CreativeOne Wealth LLC’s holdings in AbbVie were worth $2,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie during the 4th quarter worth $44,000. Core Wealth Advisors Inc. lifted its holdings in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the period. Bourgeon Capital Management LLC boosted its position in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares in the last quarter. Naples Money Management LLC bought a new position in AbbVie during the fourth quarter worth about $53,000. Finally, Rakuten Securities Inc. acquired a new stake in AbbVie in the 4th quarter valued at $57,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV traded down $1.93 on Tuesday, reaching $162.63. The company had a trading volume of 1,498,145 shares, compared to its average volume of 5,490,338. The stock has a market cap of $287.18 billion, a P/E ratio of 48.34, a P/E/G ratio of 2.10 and a beta of 0.61. 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 Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company’s fifty day moving average is $169.58 and its 200 day moving average is $162.85.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.46 earnings per share. As a group, analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ABBV shares. Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective 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. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $176.14.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were 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 directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, 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. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

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.