Williams Jones Wealth Management LLC. Has $11.08 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Williams Jones Wealth Management LLC. trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,352 shares of the company’s stock after selling 975 shares during the period. Williams Jones Wealth Management LLC.’s holdings in AbbVie were worth $11,080,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Willis Johnson & Associates Inc. lifted its stake in AbbVie by 9.4% during the fourth quarter. Willis Johnson & Associates Inc. now owns 3,379 shares of the company’s stock worth $600,000 after purchasing an additional 291 shares during the last quarter. Zurich Insurance Group Ltd FI raised its holdings in shares of AbbVie by 11.7% during the 4th quarter. Zurich Insurance Group Ltd FI now owns 420,327 shares of the company’s stock worth $74,692,000 after buying an additional 43,991 shares in the last quarter. Victrix Investment Advisors acquired a new stake in AbbVie in the fourth quarter valued at about $1,024,000. Vident Advisory LLC boosted its stake in shares of AbbVie by 19.5% in the 4th quarter. Vident Advisory LLC now owns 92,617 shares of the company’s stock valued at $16,459,000 after purchasing an additional 15,110 shares in the last quarter. Finally, Spurstone Advisory Services LLC bought a new stake in shares of AbbVie during the 4th quarter valued at approximately $213,000. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. 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 report on Monday, February 3rd. Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. UBS Group raised their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BMO Capital Markets upped their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Trading Up 0.9%

NYSE ABBV opened at $185.64 on Tuesday. The stock has a market capitalization of $327.92 billion, a P/E ratio of 77.35, a P/E/G ratio of 1.62 and a beta of 0.56. The business has a 50 day simple moving average of $190.77 and a 200 day simple moving average of $186.73. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. 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, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the firm posted $2.31 EPS. The company’s quarterly revenue was up 8.4% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current 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.