AbbVie Inc. (NYSE:ABBV) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in AbbVie Inc. (NYSE:ABBVFree Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,111,268 shares of the company’s stock after selling 17,535 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of AbbVie worth $327,183,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. acquired a new position in shares of AbbVie during the fourth quarter worth about $44,000. Clear Investment Research LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $48,000. Core Wealth Advisors Inc. grew its position in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after buying an additional 285 shares in the last quarter. Bourgeon Capital Management LLC grew its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares in the last quarter. Finally, Naples Money Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth about $53,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ABBV. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Guggenheim boosted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price for the company. Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Truist Financial boosted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

Get Our Latest Report on AbbVie

AbbVie Price Performance

ABBV stock traded up $0.98 on Tuesday, reaching $161.17. 1,531,213 shares of the company’s stock were exchanged, compared to its average volume of 5,535,308. The stock has a fifty day moving average of $165.47 and a 200-day moving average of $164.17. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a market cap of $284.61 billion, a PE ratio of 48.08, a P/E/G ratio of 2.06 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the prior year, the company posted $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

AbbVie Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.