Stockman Wealth Management Inc. Has $416,000 Stock Position in AbbVie Inc. (NYSE:ABBV)

Stockman Wealth Management Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,343 shares of the company’s stock after selling 276 shares during the quarter. Stockman Wealth Management Inc.’s holdings in AbbVie were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. AMF Tjanstepension AB bought a new position in shares of AbbVie in the third quarter worth about $8,777,000. Iowa State Bank lifted its stake in AbbVie by 3.5% during the 3rd quarter. Iowa State Bank now owns 53,097 shares of the company’s stock valued at $10,486,000 after acquiring an additional 1,809 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of AbbVie by 44.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 109,970 shares of the company’s stock valued at $21,704,000 after acquiring an additional 33,785 shares during the last quarter. Wynn Capital LLC grew its stake in shares of AbbVie by 2.0% in the third quarter. Wynn Capital LLC now owns 8,520 shares of the company’s stock worth $1,683,000 after acquiring an additional 170 shares during the period. Finally, Fiduciary Financial Group LLC purchased a new position in shares of AbbVie during the third quarter valued at approximately $283,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 1.2 %

Shares of AbbVie stock opened at $190.67 on Friday. 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 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 Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a 50-day moving average price of $177.54 and a 200-day moving average price of $185.60.

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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research report on Friday, November 22nd. BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.