AbbVie Inc. (NYSE:ABBV) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,336 shares of the company’s stock after selling 18,142 shares during the quarter. AbbVie comprises 0.5% of Snowden Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Snowden Capital Advisors LLC’s holdings in AbbVie were worth $17,474,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Security National Bank of SO Dak raised its stake in shares of AbbVie by 4.9% in the 4th quarter. Security National Bank of SO Dak now owns 17,012 shares of the company’s stock valued at $3,023,000 after acquiring an additional 795 shares during the period. SGL Investment Advisors Inc. acquired a new position in AbbVie during the fourth quarter worth $243,000. Shell Asset Management Co. boosted its position in shares of AbbVie by 0.5% during the fourth quarter. Shell Asset Management Co. now owns 36,710 shares of the company’s stock worth $6,523,000 after buying an additional 167 shares during the period. Rafferty Asset Management LLC grew its stake in shares of AbbVie by 4.1% in the fourth quarter. Rafferty Asset Management LLC now owns 277,386 shares of the company’s stock valued at $49,291,000 after buying an additional 11,042 shares in the last quarter. Finally, Raiffeisen Bank International AG purchased a new stake in shares of AbbVie in the 4th quarter valued at $62,420,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Citigroup restated a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Stock Up 2.3%

ABBV stock opened at $181.52 on Friday. The company has a 50 day moving average price of $191.89 and a two-hundred day moving average price of $187.11. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market capitalization of $321.10 billion, a P/E ratio of 75.63, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last quarter. 0.25% of the stock is owned by insiders.

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.