AbbVie Inc. (NYSE:ABBV) Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,544 shares of the company’s stock after selling 143 shares during the period. AbbVie makes up approximately 1.2% of Ibex Wealth Advisors’ holdings, making the stock its 21st largest position. Ibex Wealth Advisors’ holdings in AbbVie were worth $9,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of AbbVie by 1.6% in 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 during the period. FMR LLC lifted its position in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AbbVie by 6.1% in the 3rd 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 purchasing an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of AbbVie by 1,745.0% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ABBV shares. Citigroup dropped their price objective on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a report on Tuesday. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. dropped their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $175.21 on Thursday. 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 company has a market cap of $309.62 billion, a PE ratio of 60.84, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The company has a 50-day simple moving average of $176.22 and a 200-day simple moving average of $184.97. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm posted $2.95 EPS. AbbVie’s revenue was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.06 earnings per share for the current year.

Insider Activity

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

AbbVie Company 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.