AbbVie Inc. (NYSE:ABBV) Shares Sold by Broderick Brian C

Broderick Brian C decreased its position in AbbVie Inc. (NYSE:ABBVFree Report) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,939 shares of the company’s stock after selling 1,258 shares during the period. Broderick Brian C’s holdings in AbbVie were worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lokken Investment Group LLC lifted its stake in AbbVie by 3.6% during the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after purchasing an additional 58 shares during the last quarter. Aspen Wealth Strategies LLC lifted its position in shares of AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in shares of AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after acquiring an additional 63 shares in the last quarter. Avion Wealth lifted its position in shares of AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after acquiring an additional 65 shares in the last quarter. Finally, White Pine Capital LLC lifted its position in shares of AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays dropped their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.21.

Get Our Latest Research Report on AbbVie

AbbVie Stock Performance

NYSE:ABBV traded up $0.85 during midday trading on Friday, reaching $169.42. The stock had a trading volume of 3,781,858 shares, compared to its average volume of 4,890,198. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm’s fifty day simple moving average is $164.31 and its 200-day simple moving average is $164.59. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The stock has a market capitalization of $299.17 billion, a P/E ratio of 50.27, a PEG ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the business posted $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

About AbbVie

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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