TBH Global Asset Management LLC Lowers Position in AbbVie Inc. (NYSE:ABBV)

TBH Global Asset Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,194 shares of the company’s stock after selling 341 shares during the quarter. TBH Global Asset Management LLC’s holdings in AbbVie were worth $1,115,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ABBV. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after acquiring an additional 1,450,089 shares in the last quarter. Morgan Stanley lifted its position in shares of AbbVie by 2.9% during the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AbbVie by 7.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Northern Trust Corp lifted its position in shares of AbbVie by 2.3% during the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie during the 4th quarter valued at approximately $3,229,888,000. Institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

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 transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were 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 in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,561 shares of company stock worth $53,645,658. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Down 0.8 %

NYSE:ABBV traded down $1.20 during mid-day trading on Friday, reaching $157.06. The company’s stock had a trading volume of 3,604,034 shares, compared to its average volume of 5,510,382. The company’s fifty day simple moving average is $168.36 and its two-hundred day simple moving average is $162.95. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The stock has a market cap of $277.35 billion, a P/E ratio of 46.76, a P/E/G ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. On average, equities analysts predict that AbbVie Inc. will post 11.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. BMO Capital Markets decreased their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.