B. Riley Wealth Advisors Inc. Sells 15,193 Shares of AbbVie Inc. (NYSE:ABBV)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 130,219 shares of the company’s stock after selling 15,193 shares during the quarter. AbbVie accounts for about 0.5% of B. Riley Wealth Advisors Inc.’s holdings, making the stock its 28th biggest position. B. Riley Wealth Advisors Inc.’s holdings in AbbVie were worth $20,180,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the fourth quarter valued at about $26,000. Able Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. bought a new position in AbbVie in the 4th quarter valued at about $37,000. Clarity Asset Management Inc. bought a new stake in shares of AbbVie during the 4th quarter worth approximately $42,000. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $44,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price for the company. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim upped their price objective 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. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research report on Wednesday, June 5th. Finally, Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $178.21.

AbbVie Stock Performance

NYSE:ABBV opened at $169.70 on Tuesday. 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 has a 50 day simple moving average of $163.56 and a two-hundred day simple moving average of $166.18. The company has a market capitalization of $299.67 billion, a PE ratio of 50.36, a P/E/G ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.46 earnings per share. Research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.