AbbVie Inc. (NYSE:ABBV) Position Lessened by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,317 shares of the company’s stock after selling 1,857 shares during the quarter. AbbVie makes up 5.6% of Slocum Gordon & Co LLP’s holdings, making the stock its 5th largest position. Slocum Gordon & Co LLP’s holdings in AbbVie were worth $6,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ABBV. International Assets Investment Management LLC boosted its holdings in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp lifted its position in AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in AbbVie by 6.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Finally, Saturna Capital Corp increased its position in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.6 %

Shares of NYSE:ABBV opened at $192.95 on Friday. The company has a market capitalization of $340.96 billion, a PE ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The business has a 50 day moving average of $177.38 and a two-hundred day moving average of $185.48. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced 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 earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.26 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ABBV. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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.