JT Stratford LLC Sells 59 Shares of AbbVie Inc. (NYSE:ABBV)

JT Stratford LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,048 shares of the company’s stock after selling 59 shares during the period. JT Stratford LLC’s holdings in AbbVie were worth $1,252,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $309,000. Capital & Planning LLC boosted its stake in AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after buying an additional 105 shares in the last quarter. LaFleur & Godfrey LLC increased its holdings in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares during the period. Pure Financial Advisors LLC raised its stake in shares of AbbVie by 5.6% in the 4th quarter. Pure Financial Advisors LLC now owns 7,380 shares of the company’s stock valued at $1,311,000 after buying an additional 389 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its holdings in shares of AbbVie by 1.8% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 332,772 shares of the company’s stock worth $59,134,000 after acquiring an additional 5,887 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 1.7%

AbbVie stock opened at $181.74 on Thursday. The firm has a market capitalization of $321.02 billion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.62 and a beta of 0.56. The company’s 50 day simple moving average is $189.64 and its 200 day simple moving average is $186.68. 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 fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’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 of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.95.

AbbVie Company 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.