Optimist Retirement Group LLC Sells 250 Shares of AbbVie Inc. (NYSE:ABBV)

Optimist Retirement Group LLC lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,312 shares of the company’s stock after selling 250 shares during the period. AbbVie accounts for about 1.1% of Optimist Retirement Group LLC’s investment portfolio, making the stock its 20th largest holding. Optimist Retirement Group LLC’s holdings in AbbVie were worth $2,366,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Groupama Asset Managment raised its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the 4th quarter valued at about $35,000. Finally, Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter worth about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.9 %

AbbVie stock opened at $191.74 on Thursday. The stock has a market cap of $338.82 billion, a PE ratio of 79.89, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a fifty day moving average of $177.01 and a 200 day moving average of $185.38. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 business posted $2.79 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 directly owns 6,983 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. Citigroup raised their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price 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.