Edmp Inc. Lowers Stake in AbbVie Inc. (NYSE:ABBV)

Edmp Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,192 shares of the company’s stock after selling 82 shares during the quarter. AbbVie makes up about 4.4% of Edmp Inc.’s investment portfolio, making the stock its 3rd largest holding. Edmp Inc.’s holdings in AbbVie were worth $4,654,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Latitude Advisors LLC grew its position in shares of AbbVie by 380.5% during the 4th quarter. Latitude Advisors LLC now owns 12,354 shares of the company’s stock valued at $2,195,000 after acquiring an additional 9,783 shares during the period. Sovran Advisors LLC bought a new stake in AbbVie during the fourth quarter valued at about $552,000. Compound Global Advisors LLC purchased a new stake in AbbVie in the fourth quarter worth about $311,000. Axecap Investments LLC lifted its position in shares of AbbVie by 9.2% during the 4th quarter. Axecap Investments LLC now owns 23,839 shares of the company’s stock valued at $4,236,000 after buying an additional 2,005 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $278,000. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Piper Sandler increased their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

NYSE ABBV opened at $190.31 on Tuesday. The company has a market cap of $336.30 billion, a P/E ratio of 79.29, a P/E/G ratio of 1.53 and a beta of 0.58. The business’s 50 day moving average price is $177.54 and its 200-day moving average price is $185.75. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

About AbbVie

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.