Cullinan Associates Inc. Sells 15,625 Shares of AbbVie Inc. (NYSE:ABBV)

Cullinan Associates Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 14.3% during the 4th quarter, HoldingsChannel reports. The fund owned 93,777 shares of the company’s stock after selling 15,625 shares during the quarter. AbbVie accounts for about 1.1% of Cullinan Associates Inc.’s investment portfolio, making the stock its 25th largest holding. Cullinan Associates Inc.’s holdings in AbbVie were worth $16,664,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

ABBV stock opened at $190.20 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a 50 day moving average of $176.57 and a 200-day moving average of $185.13. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ABBV. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday. Finally, Barclays raised their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.