AbbVie Inc. (NYSE:ABBV) Holdings Trimmed by Edmp Inc.

Edmp Inc. lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,192 shares of the company’s stock after selling 82 shares during the period. AbbVie makes up approximately 4.4% of Edmp Inc.’s portfolio, making the stock its 3rd biggest holding. Edmp Inc.’s holdings in AbbVie were worth $4,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. Latitude Advisors LLC raised its holdings in shares of AbbVie by 380.5% in the 4th quarter. Latitude Advisors LLC now owns 12,354 shares of the company’s stock worth $2,195,000 after purchasing an additional 9,783 shares during the period. Sovran Advisors LLC bought a new position in AbbVie during the fourth quarter valued at $552,000. Compound Global Advisors LLC purchased a new stake in AbbVie in the fourth quarter worth $311,000. Axecap Investments LLC raised its stake in shares of AbbVie by 9.2% in the fourth quarter. Axecap Investments LLC now owns 23,839 shares of the company’s stock valued at $4,236,000 after buying an additional 2,005 shares during the period. Finally, Stonebridge Financial Group LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $278,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of AbbVie stock opened at $190.31 on Tuesday. The stock has a market capitalization of $336.30 billion, a P/E ratio of 79.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s 50 day simple moving average is $177.54 and its two-hundred day simple moving average is $185.75.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS 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 quarter in the prior year, the business earned $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This 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 available at this link. 0.25% of the stock is owned by insiders.

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.