Farmers & Merchants Investments Inc. Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Farmers & Merchants Investments Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,356 shares of the company’s stock after selling 734 shares during the period. Farmers & Merchants Investments Inc.’s holdings in AbbVie were worth $16,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Counterweight Ventures LLC boosted its holdings 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 increased its holdings in shares of AbbVie by 8.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 89,190 shares of the company’s stock valued at $15,849,000 after purchasing an additional 6,967 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of 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 acquiring an additional 8,209 shares during the last quarter. Opinicus Capital Inc. raised its holdings in shares of AbbVie by 5.2% during the 4th quarter. Opinicus Capital Inc. now owns 9,217 shares of the company’s stock worth $1,638,000 after acquiring an additional 458 shares during the period. Finally, TFG Advisers LLC boosted its holdings in AbbVie by 0.5% in the 4th quarter. TFG Advisers LLC now owns 20,830 shares of the company’s stock valued at $3,702,000 after purchasing an additional 111 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 company’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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 can be accessed through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Trading Down 1.2 %

Shares of AbbVie stock opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 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 has a 50 day moving average price of $177.38 and a 200 day moving average price of $185.48. The company has a market capitalization of $336.94 billion, a P/E 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 (EPS) 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 quarter in the previous year, the company posted $2.79 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ABBV shares. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Five 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie 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.