AbbVie Inc. (NYSE:ABBV) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,494 shares of the company’s stock after selling 254 shares during the quarter. AbbVie makes up 0.9% of MidWestOne Financial Group Inc.’s investment portfolio, making the stock its 13th largest position. MidWestOne Financial Group Inc.’s holdings in AbbVie were worth $6,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC raised its stake in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after buying an additional 52 shares during the period. Steel Grove Capital Advisors LLC grew its stake in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its position in AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. boosted its position in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Sound Financial Strategies Group LLC increased its holdings in AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company’s stock worth $213,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Bank of America boosted their price target on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Eight investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $184.75 on Wednesday. The company has a market capitalization of $326.34 billion, a P/E ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company’s 50-day moving average is $190.24 and its 200 day moving average is $186.71. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. The trade was a 40.32% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by company 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.