Supplemental Annuity Collective Trust of NJ Sells 2,000 Shares of AbbVie Inc. (NYSE:ABBV)

Supplemental Annuity Collective Trust of NJ trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 26.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,562 shares of the company’s stock after selling 2,000 shares during the quarter. Supplemental Annuity Collective Trust of NJ’s holdings in AbbVie were worth $988,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ABBV. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie in the 3rd quarter worth $999,000. Saturna Capital Corp grew its position in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the period. Everence Capital Management Inc. grew its holdings in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC increased its holdings in AbbVie by 9.5% in the 4th 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 during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% in the 3rd 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 period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.3 %

Shares of NYSE ABBV opened at $193.54 on Friday. The business has a fifty day simple moving average of $178.24 and a 200-day simple moving average of $185.91. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $342.00 billion, a price-to-earnings ratio of 80.64, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

Analysts Set New Price Targets

ABBV has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Morgan Stanley increased their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James restated 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, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling

In other AbbVie 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 of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

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.