Worldquant Millennium Advisors LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 28.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 416,351 shares of the company's stock after selling 161,765 shares during the period. Worldquant Millennium Advisors LLC's holdings in AbbVie were worth $73,986,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC raised its stake in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC raised its stake in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after acquiring an additional 54 shares in the last quarter. Physicians Financial Services Inc. raised its stake in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after acquiring an additional 55 shares in the last quarter. Finally, Sound Financial Strategies Group LLC raised its stake in shares of AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock valued at $213,000 after acquiring an additional 60 shares in the last quarter. Institutional investors own 70.23% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday. Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Raymond James reissued an "outperform" rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $210.95.
View Our Latest Analysis on ABBV
Insider Activity
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,693 shares of company stock valued at $22,282,985 over the last ninety days. 0.25% of the stock is currently owned by insiders.
AbbVie Stock Performance
Shares of ABBV traded up $0.97 during trading hours on Friday, reaching $183.51. 4,026,933 shares of the company traded hands, compared to its average volume of 6,244,068. The stock has a market capitalization of $324.15 billion, a P/E ratio of 76.46, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The business has a fifty day moving average price of $188.39 and a 200-day moving average price of $186.43.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
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.
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