Narus Financial Partners LLC Trims Position in AbbVie Inc. (NYSE:ABBV)

Narus Financial Partners LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 34.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,587 shares of the company’s stock after selling 821 shares during the quarter. Narus Financial Partners LLC’s holdings in AbbVie were worth $282,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Groupama Asset Managment grew its stake in 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 buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the 4th quarter worth approximately $35,000. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.2 %

ABBV stock opened at $175.54 on Friday. The business has a 50 day moving average of $176.37 and a 200 day moving average of $184.90. The firm has a market cap of $310.21 billion, a PE ratio of 60.95, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. 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 quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company earned $2.95 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABBV. Guggenheim raised their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. TD Cowen raised their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, BMO Capital Markets dropped their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

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.