Oxler Private Wealth LLC Sells 12,788 Shares of AbbVie Inc. (NYSE:ABBV)

Oxler Private Wealth LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 79.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,258 shares of the company’s stock after selling 12,788 shares during the quarter. Oxler Private Wealth LLC’s holdings in AbbVie were worth $505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. DiNuzzo Private Wealth Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $44,000. Bourgeon Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 240 shares in the last quarter. Naples Money Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $53,000. Core Wealth Advisors Inc. raised its stake in AbbVie by 459.7% during the 3rd 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 last quarter. Finally, Rakuten Securities Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at about $57,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of AbbVie stock traded down $3.32 during trading hours on Wednesday, reaching $159.61. The company’s stock had a trading volume of 6,892,922 shares, compared to its average volume of 5,527,882. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company’s 50 day simple moving average is $169.22 and its 200 day simple moving average is $163.00. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The stock has a market cap of $281.85 billion, a P/E ratio of 47.44, a price-to-earnings-growth ratio of 2.08 and a beta of 0.61.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The business 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 business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 EPS. As a group, analysts expect that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Perry C. Siatis sold 13,753 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the completion of the sale, the executive vice president now directly owns 28,173 shares in the company, valued at $5,000,989.23. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Perry C. Siatis sold 13,753 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.51, for a total value of $2,441,295.03. Following the transaction, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. Insiders have sold a total of 330,454 shares of company stock valued at $58,595,955 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim raised their price target 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. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

AbbVie 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.