AWM Capital LLC Sells 85 Shares of AbbVie Inc. (NYSE:ABBV)

AWM Capital LLC reduced its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,454 shares of the company’s stock after selling 85 shares during the period. AWM Capital LLC’s holdings in AbbVie were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Aspen Wealth Strategies LLC raised its position in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the last quarter. Marks Group Wealth Management Inc raised its position in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the last quarter. Avion Wealth raised its position in AbbVie by 11.9% during the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock worth $95,000 after buying an additional 65 shares during the last quarter. White Pine Capital LLC raised its position in AbbVie by 1.2% during the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock worth $852,000 after buying an additional 65 shares during the last quarter. Finally, JNBA Financial Advisors raised its position in AbbVie by 0.7% during the 4th quarter. JNBA Financial Advisors now owns 9,208 shares of the company’s stock worth $1,427,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.1 %

AbbVie stock traded down $1.80 during midday trading on Monday, reaching $164.62. The stock had a trading volume of 3,058,482 shares, compared to its average volume of 5,532,719. The stock has a market capitalization of $290.70 billion, a P/E ratio of 48.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm’s fifty day simple moving average is $169.88 and its 200-day simple moving average is $162.70. 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 (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. AbbVie’s revenue was up .7% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Friday. They set an “overweight” rating and a $200.00 price target on the stock. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets lowered their price target 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.14.

View Our Latest Research Report on AbbVie

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last ninety days. 0.25% of the stock is currently owned by insiders.

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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