Appleton Partners Inc. MA Has $7.09 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Appleton Partners Inc. MA trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,921 shares of the company’s stock after selling 671 shares during the period. Appleton Partners Inc. MA’s holdings in AbbVie were worth $7,094,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp grew its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. FMR LLC grew its holdings in shares of AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now owns 6,983 shares in the company, 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.2 %

Shares of ABBV opened at $190.67 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The firm’s 50 day moving average is $177.38 and its 200-day moving average is $185.48. The stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm earned $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 12.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ABBV shares. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Bank of America restated a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Truist Financial increased their price target 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. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Finally, Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Five equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.