Prudent Investors Network Inc. Sells 750 Shares of AbbVie Inc. (NYSE:ABBV)

Prudent Investors Network Inc. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 11.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,930 shares of the company’s stock after selling 750 shares during the period. AbbVie comprises approximately 0.3% of Prudent Investors Network Inc.’s holdings, making the stock its 21st largest holding. Prudent Investors Network Inc.’s holdings in AbbVie were worth $1,054,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Lederer & Associates Investment Counsel CA bought a new position in AbbVie in the 4th quarter valued at $1,834,000. Catalina Capital Group LLC boosted its position in shares of AbbVie by 5.5% in the 4th quarter. Catalina Capital Group LLC now owns 10,670 shares of the company’s stock worth $1,896,000 after purchasing an additional 557 shares during the last quarter. S.A. Mason LLC boosted its position in shares of AbbVie by 0.8% in the 4th quarter. S.A. Mason LLC now owns 12,745 shares of the company’s stock worth $2,265,000 after purchasing an additional 104 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in shares of AbbVie by 0.9% in the 4th quarter. Princeton Global Asset Management LLC now owns 29,932 shares of the company’s stock worth $5,319,000 after purchasing an additional 273 shares during the last quarter. Finally, Chicago Capital LLC boosted its position in shares of AbbVie by 0.6% in the 4th quarter. Chicago Capital LLC now owns 53,003 shares of the company’s stock worth $9,419,000 after purchasing an additional 307 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler raised their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Citigroup reduced their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.35.

AbbVie Trading Up 4.7 %

AbbVie stock opened at $183.90 on Monday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The stock has a market capitalization of $324.98 billion, a P/E ratio of 76.63, a PEG ratio of 1.84 and a beta of 0.58. The stock has a 50-day simple moving average of $176.57 and a 200 day simple moving average of $185.13. 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 (NYSE:ABBV) last issued its quarterly earnings data 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm posted $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current year.

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.