Oak Family Advisors LLC Cuts Position in AbbVie Inc. (NYSE:ABBV)

Oak Family Advisors LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,799 shares of the company’s stock after selling 138 shares during the quarter. Oak Family Advisors LLC’s holdings in AbbVie were worth $2,274,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares during the period. State Street Corp lifted its position in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock worth $414,088,000 after acquiring an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp raised its stake in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ABBV shares. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. BMO Capital Markets lowered their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company upped their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Stock Performance

AbbVie stock opened at $183.90 on Monday. The company has a market cap of $324.98 billion, a PE ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58. The company has a fifty day moving average price of $176.57 and a two-hundred day moving average price of $185.06. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same quarter last year, the company posted $2.79 EPS. Research analysts expect that AbbVie Inc. will post 10.09 earnings per share for the current year.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.