AbbVie Inc. (NYSE:ABBV) Shares Sold by Pettyjohn Wood & White Inc.

Pettyjohn Wood & White Inc. cut its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,022 shares of the company’s stock after selling 118 shares during the quarter. AbbVie comprises 1.7% of Pettyjohn Wood & White Inc.’s portfolio, making the stock its 17th biggest position. Pettyjohn Wood & White Inc.’s holdings in AbbVie were worth $7,752,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American National Bank grew its stake in shares of AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after buying an additional 2,695 shares in the last quarter. AXS Investments LLC raised its stake in shares of AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after purchasing an additional 165 shares in the last quarter. Mizuho Markets Americas LLC boosted its stake in shares of AbbVie by 33.4% in the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,737 shares during the period. Finally, Retirement Planning Co of New England Inc. increased its stake in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after buying an additional 4,633 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE ABBV traded up $0.50 on Thursday, reaching $166.59. 3,690,765 shares of the stock traded hands, compared to its average volume of 5,487,777. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market cap of $294.18 billion, a price-to-earnings ratio of 49.43, a P/E/G ratio of 2.18 and a beta of 0.60. The firm’s fifty day simple moving average is $163.59 and its 200 day simple moving average is $165.40. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price for the company. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $178.21.

Check Out Our Latest Report on AbbVie

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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