Cox Capital Mgt LLC Sells 9,605 Shares of AbbVie Inc. (NYSE:ABBV)

Cox Capital Mgt LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 48.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,276 shares of the company’s stock after selling 9,605 shares during the quarter. Cox Capital Mgt LLC’s holdings in AbbVie were worth $1,638,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ABBV. Red Tortoise LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $27,000. Boulder Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $31,000. My Personal CFO LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. Align Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $27,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its position in AbbVie by 85.3% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after buying an additional 93 shares in the last quarter. 68.27% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of analysts have weighed in on ABBV shares. Argus lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. StockNews.com started coverage on shares of AbbVie in a research report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. Barclays raised their target price on shares of AbbVie from $155.00 to $160.00 in a research report on Wednesday, April 12th. Wells Fargo & Company cut their target price on shares of AbbVie from $200.00 to $195.00 in a research report on Friday, April 28th. Finally, Wolfe Research downgraded shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of AbbVie stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total value of $563,200.00. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at $1,660,320. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Perry C. Siatis sold 3,520 shares of AbbVie 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 directly owns 10,377 shares in the company, valued at $1,660,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Elaine K. Sorg sold 7,499 shares of AbbVie stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $161.67, for a total transaction of $1,212,363.33. Following the transaction, the senior vice president now owns 35,330 shares of the company’s stock, valued at $5,711,801.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,151 shares of company stock valued at $5,187,783. Corporate insiders own 0.26% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $136.86 on Thursday. AbbVie Inc. has a twelve month low of $131.10 and a twelve month high of $168.11. The firm has a fifty day simple moving average of $145.98 and a 200 day simple moving average of $152.43. The company has a market capitalization of $241.46 billion, a PE ratio of 32.35, a P/E/G ratio of 2.53 and a beta of 0.58. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46.

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 analysts’ consensus estimates of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business had revenue of $12.23 billion during the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter last year, the firm earned $3.16 earnings per share. AbbVie’s quarterly revenue was down 9.7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 10.97 EPS for the current year.

AbbVie Company Profile

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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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