BTC Capital Management Inc. Has $11.51 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

BTC Capital Management Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,758 shares of the company’s stock after selling 2,446 shares during the period. AbbVie accounts for approximately 1.1% of BTC Capital Management Inc.’s portfolio, making the stock its 26th biggest position. BTC Capital Management Inc.’s holdings in AbbVie were worth $11,508,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Hamilton Point Investment Advisors LLC raised its holdings in AbbVie by 16.5% during the fourth quarter. Hamilton Point Investment Advisors LLC now owns 6,156 shares of the company’s stock valued at $1,094,000 after buying an additional 872 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in AbbVie by 1.5% during the fourth quarter. Keudell Morrison Wealth Management now owns 21,834 shares of the company’s stock valued at $3,880,000 after buying an additional 325 shares in the last quarter. Integris Wealth Management LLC raised its holdings in AbbVie by 5.3% during the fourth quarter. Integris Wealth Management LLC now owns 5,164 shares of the company’s stock valued at $918,000 after buying an additional 259 shares in the last quarter. CMG Global Holdings LLC raised its holdings in AbbVie by 1.6% during the fourth quarter. CMG Global Holdings LLC now owns 3,896 shares of the company’s stock valued at $659,000 after buying an additional 61 shares in the last quarter. Finally, Evernest Financial Advisors LLC raised its holdings in AbbVie by 296.1% during the fourth quarter. Evernest Financial Advisors LLC now owns 5,355 shares of the company’s stock valued at $952,000 after buying an additional 4,003 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Truist Financial dropped their price objective on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, December 5th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, UBS Group lifted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Five 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.2 %

NYSE ABBV opened at $175.54 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock’s 50 day moving average is $176.43 and its two-hundred day moving average is $184.84. The company has a market capitalization of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 earnings per share. Equities analysts forecast that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

About AbbVie

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.