AbbVie Inc. (NYSE:ABBV) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 35.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,320 shares of the company’s stock after selling 25,370 shares during the period. Lockheed Martin Investment Management Co.’s holdings in AbbVie were worth $8,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $35,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related 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 value of $310,032.00. Following the sale, the senior vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABBV shares. Raymond James restated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday. Wells Fargo & Company raised their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $189.97 on Wednesday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The stock has a market cap of $335.71 billion, a PE ratio of 79.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The business’s fifty day moving average price is $176.84 and its two-hundred day moving average price is $185.26. 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 (NYSE:ABBV) last posted 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 period in the previous year, the firm posted $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

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.