Thompson Investment Management Inc. Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Thompson Investment Management Inc. decreased its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,505 shares of the company’s stock after selling 508 shares during the quarter. Thompson Investment Management Inc.’s holdings in AbbVie were worth $6,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its stake in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its stake in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Sanford C. Bernstein initiated coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five 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 stock. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $190.67 on Friday. The company has a market cap of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The stock’s 50 day simple moving average is $177.54 and its 200-day simple moving average is $185.60. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the firm posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

AbbVie 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.