Stephens Inc. AR Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

Stephens Inc. AR cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 146,090 shares of the company’s stock after selling 14,373 shares during the quarter. Stephens Inc. AR’s holdings in AbbVie were worth $25,960,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie during the third quarter worth $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. lifted its holdings in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.2 %

NYSE ABBV opened at $190.67 on Friday. The firm has a 50 day simple moving average of $177.54 and a 200-day simple moving average of $185.60. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The firm has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company posted $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ABBV shares. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. UBS Group raised 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. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently 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.