United Capital Financial Advisers LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,760 shares of the company’s stock after selling 23,233 shares during the quarter. United Capital Financial Advisers LLC’s holdings in AbbVie were worth $77,696,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Centaurus Financial Inc. grew its position in AbbVie by 4.8% during the 3rd quarter. Centaurus Financial Inc. now owns 14,439 shares of the company’s stock worth $1,938,000 after purchasing an additional 667 shares during the last quarter. First Citizens Financial Corp boosted its holdings in shares of AbbVie by 2.3% in the 4th quarter. First Citizens Financial Corp now owns 4,505 shares of the company’s stock valued at $728,000 after acquiring an additional 100 shares during the last quarter. Crescent Sterling Ltd. purchased a new stake in shares of AbbVie in the 4th quarter valued at $3,486,000. Lindbrook Capital LLC boosted its holdings in shares of AbbVie by 9.8% in the 4th quarter. Lindbrook Capital LLC now owns 10,608 shares of the company’s stock valued at $1,714,000 after acquiring an additional 944 shares during the last quarter. Finally, Baldwin Brothers LLC MA boosted its holdings in shares of AbbVie by 22.5% in the 4th quarter. Baldwin Brothers LLC MA now owns 14,454 shares of the company’s stock valued at $2,336,000 after acquiring an additional 2,654 shares during the last quarter. Institutional investors own 67.71% of the company’s stock.
Insiders Place Their Bets
In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,660,320. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $161.67, for a total value of $1,212,363.33. Following the completion of the transaction, the senior vice president now owns 35,330 shares in the company, valued at $5,711,801.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 3,520 shares of AbbVie stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The disclosure for this sale can be found here. Insiders sold a total of 32,151 shares of company stock valued at $5,187,783 over the last 90 days. 0.26% of the stock is owned by company insiders.
AbbVie Trading Down 1.5 %
AbbVie (NYSE:ABBV – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.02. The company had revenue of $12.23 billion during the quarter, compared to analyst estimates of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. AbbVie’s revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.16 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Guggenheim dropped their price objective on shares of AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Barclays increased their price target on shares of AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Morgan Stanley increased their price target on shares of AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a report on Monday, April 10th. Finally, Wells Fargo & Company lowered their price target on shares of AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.40.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
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