TCV Trust & Wealth Management Inc. Sells 867 Shares of AbbVie Inc. (NYSE:ABBV)

TCV Trust & Wealth Management Inc. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 8.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,229 shares of the company’s stock after selling 867 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in AbbVie were worth $1,640,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABBV. Groupama Asset Managment raised its position in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the fourth quarter worth $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ABBV. Truist Financial upped their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Wells Fargo & Company upped their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $191.81 on Wednesday. The firm’s 50-day moving average price is $177.71 and its 200-day moving average price is $185.81. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a market cap of $338.96 billion, a PE ratio of 79.92, a PEG ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

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

AbbVie 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.