Johnson Financial Group Inc. Has $4.48 Million Stake in AbbVie Inc. (NYSE:ABBV)

Johnson Financial Group Inc. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,920 shares of the company’s stock after selling 1,006 shares during the period. Johnson Financial Group Inc.’s holdings in AbbVie were worth $4,482,000 as of its most recent SEC filing.

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

AbbVie Trading Down 0.8 %

Shares of ABBV traded down $1.19 during trading hours on Friday, hitting $157.07. 3,689,906 shares of the stock traded hands, compared to its average volume of 5,511,237. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm has a market capitalization of $277.37 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. The business has a fifty day moving average of $167.94 and a 200-day moving average of $163.06.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the firm posted $2.46 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 11.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Guggenheim upped their price target on 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 AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 302,561 shares of company stock valued at $53,645,658. 0.25% of the stock is currently owned by company insiders.

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.