AbbVie Inc. (NYSE:ABBV) Position Cut by Clarus Group Inc.

Clarus Group Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,172 shares of the company’s stock after selling 447 shares during the period. Clarus Group Inc.’s holdings in AbbVie were worth $386,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ABBV. AMF Tjanstepension AB acquired a new stake in shares of AbbVie in the third quarter valued at $8,777,000. Carnegie Investment Counsel raised its position in AbbVie by 3.4% in the third quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock worth $7,589,000 after acquiring an additional 1,252 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of AbbVie by 3.1% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 2,609 shares of the company’s stock valued at $515,000 after purchasing an additional 78 shares in the last quarter. Willis Investment Counsel bought a new position in shares of AbbVie during the 3rd quarter valued at about $225,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of AbbVie by 2.3% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 172,566 shares of the company’s stock worth $34,078,000 after purchasing an additional 3,902 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. Raymond James restated an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $190.31 on Tuesday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s 50-day moving average price is $177.54 and its two-hundred day moving average price is $185.75. The company has a market capitalization of $336.30 billion, a P/E ratio of 79.29, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the firm posted $2.79 earnings per share. Analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by company insiders.

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.