Sollinda Capital Management LLC Has $617,000 Stake in AbbVie Inc. $ABBV

Sollinda Capital Management LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 82.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,664 shares of the company’s stock after selling 12,759 shares during the quarter. Sollinda Capital Management LLC’s holdings in AbbVie were worth $617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Evolution Wealth Management Inc. purchased a new stake in shares of AbbVie in the second quarter worth approximately $26,000. Spurstone Advisory Services LLC acquired a new position in AbbVie in the 2nd quarter valued at approximately $28,000. Financial Gravity Companies Inc. purchased a new stake in AbbVie in the 2nd quarter worth approximately $36,000. Delos Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 2nd quarter valued at $39,000. Finally, Bear Mountain Capital Inc. grew its holdings in shares of AbbVie by 480.6% during the 2nd quarter. Bear Mountain Capital Inc. now owns 209 shares of the company’s stock valued at $40,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.2%

Shares of AbbVie stock opened at $225.76 on Tuesday. AbbVie Inc. has a 12-month low of $164.39 and a 12-month high of $244.81. The stock has a 50 day moving average price of $224.33 and a two-hundred day moving average price of $218.90. The stock has a market capitalization of $399.01 billion, a P/E ratio of 171.03, a PEG ratio of 0.92 and a beta of 0.35.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.09. The business had revenue of $15.78 billion during the quarter, compared to the consensus estimate of $15.58 billion. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. AbbVie’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.00 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a report on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating and set a $289.00 price target (up from $284.00) on shares of AbbVie in a research note on Wednesday, November 5th. Raymond James Financial set a $256.00 price target on AbbVie in a research note on Monday, November 3rd. Cantor Fitzgerald set a $250.00 target price on shares of AbbVie and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Guggenheim boosted their target price on shares of AbbVie from $227.00 to $242.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $251.17.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.