Cambridge Investment Research Advisors Inc. Trims Holdings in AbbVie Inc. (NYSE:ABBV)

Cambridge Investment Research Advisors Inc. lessened its stake in AbbVie Inc. (NYSE:ABBV) by 8.4% in the 4th quarter, Holdings Channel reports. The firm owned 487,742 shares of the company’s stock after selling 44,986 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in AbbVie were worth $75,585,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. WealthPlan Investment Management LLC lifted its position in shares of AbbVie by 664.4% during the 3rd quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock worth $8,466,000 after purchasing an additional 49,365 shares during the last quarter. Larson Financial Group LLC increased its stake in AbbVie by 26.9% in the third quarter. Larson Financial Group LLC now owns 2,530 shares of the company’s stock valued at $377,000 after purchasing an additional 536 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in AbbVie during the third quarter worth approximately $214,000. Winthrop Advisory Group LLC boosted its holdings in shares of AbbVie by 3.6% in the 3rd quarter. Winthrop Advisory Group LLC now owns 3,562 shares of the company’s stock valued at $531,000 after buying an additional 124 shares in the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of AbbVie in the 3rd quarter valued at $3,183,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV traded down $0.14 during trading on Thursday, reaching $159.47. 2,207,389 shares of the stock were exchanged, compared to its average volume of 5,493,125. The business’s 50-day moving average price is $168.81 and its 200 day moving average price is $162.98. The company has a market capitalization of $281.60 billion, a price-to-earnings ratio of 47.29, a price-to-earnings-growth ratio of 2.09 and a beta of 0.61. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. 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:ABBV) last announced its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports 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 report on Monday, April 29th. Raymond James increased their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Truist Financial lifted their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, BMO Capital Markets reduced their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $176.14.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 13,753 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $177.51, for a total value of $2,441,295.03. Following the completion of the sale, the executive vice president now directly owns 28,173 shares in the company, valued at approximately $5,000,989.23. The disclosure for this sale can be found here. In the last three months, insiders sold 330,454 shares of company stock worth $58,595,955. 0.25% of the stock is currently owned by insiders.

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.