Simmons Bank Sells 3,210 Shares of AbbVie Inc. $ABBV

Simmons Bank lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% in the third quarter, HoldingsChannel reports. The firm owned 50,292 shares of the company’s stock after selling 3,210 shares during the period. Simmons Bank’s holdings in AbbVie were worth $11,644,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ABBV. Brown Wealth Management LLC raised its stake in AbbVie by 13.6% in the third quarter. Brown Wealth Management LLC now owns 1,511 shares of the company’s stock valued at $350,000 after buying an additional 181 shares during the period. SP Asset Management LLC boosted its stake in shares of AbbVie by 0.5% during the 3rd quarter. SP Asset Management LLC now owns 227,004 shares of the company’s stock worth $52,561,000 after acquiring an additional 1,067 shares during the period. Tsfg LLC increased its holdings in shares of AbbVie by 2.7% during the 3rd quarter. Tsfg LLC now owns 123,432 shares of the company’s stock worth $28,580,000 after acquiring an additional 3,250 shares during the last quarter. Peak Retirement Planning Inc. raised its stake in AbbVie by 14.0% in the 3rd quarter. Peak Retirement Planning Inc. now owns 2,024 shares of the company’s stock valued at $469,000 after acquiring an additional 248 shares during the period. Finally, Morling Financial Advisors LLC bought a new stake in AbbVie in the 3rd quarter valued at $227,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.2%

ABBV opened at $225.76 on Tuesday. The stock has a market capitalization of $399.01 billion, a price-to-earnings ratio of 171.03, a P/E/G ratio of 0.92 and a beta of 0.35. AbbVie Inc. has a twelve month low of $164.39 and a twelve month high of $244.81. The company has a 50-day simple moving average of $224.33 and a 200 day simple moving average of $218.90.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.77 by $0.09. AbbVie had a net margin of 4.00% and a return on equity of 3,216.47%. The company had revenue of $15.78 billion during the quarter, compared to analysts’ expectations of $15.58 billion. During the same period in the previous year, the company earned $3.00 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ABBV shares. Cantor Fitzgerald set a $250.00 price objective on shares of AbbVie and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Morgan Stanley lifted their target price on shares of AbbVie from $261.00 to $269.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. Erste Group Bank cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, October 14th. Hsbc Global Res upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AbbVie in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.17.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.