Cambridge Investment Research Advisors Inc. Sells 44,986 Shares of AbbVie Inc. (NYSE:ABBV)

Cambridge Investment Research Advisors Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 487,742 shares of the company’s stock after selling 44,986 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AbbVie were worth $75,585,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ABBV. DiNuzzo Private Wealth Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $44,000. Core Wealth Advisors Inc. increased its position in shares of AbbVie by 459.7% during the third 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 period. Bourgeon Capital Management LLC lifted its holdings in AbbVie by 240.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the period. Naples Money Management LLC purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $53,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $57,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert A. Michael sold 68,879 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.45, for a total value of $12,153,699.55. Following the completion of the sale, the chief operating officer now directly owns 98,645 shares in the company, valued at approximately $17,405,910.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 330,454 shares of company stock worth $58,595,955. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.1 %

ABBV traded down $0.14 on Thursday, hitting $159.47. The company had a trading volume of 2,207,389 shares, compared to its average volume of 5,493,125. The stock has a market capitalization of $281.60 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.09 and a beta of 0.61. The stock has a fifty day moving average price of $168.81 and a 200-day moving average price of $162.98. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. 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:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. AbbVie’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. Analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price on the stock. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim increased their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Barclays cut 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. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $176.14.

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.