Thompson Investment Management Inc. Trims Position in AbbVie Inc. (NYSE:ABBV)

Thompson Investment Management Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,505 shares of the company’s stock after selling 508 shares during the quarter. Thompson Investment Management Inc.’s holdings in AbbVie were worth $6,842,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in AbbVie by 19.6% in the 4th quarter. Empowered Funds LLC now owns 97,178 shares of the company’s stock worth $17,269,000 after buying an additional 15,934 shares during the last quarter. Seelaus Asset Management LLC lifted its position in AbbVie by 16.5% in the 4th quarter. Seelaus Asset Management LLC now owns 5,107 shares of the company’s stock worth $908,000 after buying an additional 725 shares during the last quarter. Counterweight Ventures LLC lifted its position in AbbVie by 3.4% in the 4th quarter. Counterweight Ventures LLC now owns 20,271 shares of the company’s stock worth $3,602,000 after buying an additional 675 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in AbbVie by 8.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 89,190 shares of the company’s stock worth $15,849,000 after buying an additional 6,967 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its position in AbbVie by 11.6% in the 4th quarter. Apollon Wealth Management LLC now owns 79,230 shares of the company’s stock worth $14,079,000 after buying an additional 8,209 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ABBV shares. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Truist Financial boosted their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley boosted their price objective on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 sale, the senior vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.2 %

ABBV stock opened at $190.67 on Friday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business’s 50-day moving average is $177.54 and its two-hundred day moving average is $185.60. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the company posted $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current year.

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.