Westwood Holdings Group Inc. Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Westwood Holdings Group Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,380 shares of the company’s stock after selling 92 shares during the quarter. Westwood Holdings Group Inc.’s holdings in AbbVie were worth $2,022,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $32,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.5%

NYSE:ABBV opened at $184.75 on Wednesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market capitalization of $326.34 billion, a P/E ratio of 76.98, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a 50 day simple moving average of $190.24 and a 200 day simple moving average of $186.71.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (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 analyst estimates of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was 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. The trade was 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, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ABBV has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. UBS Group lifted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.95.

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.