Cigna Investments Inc. New Has $3.23 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Cigna Investments Inc. New reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,187 shares of the company’s stock after selling 110 shares during the quarter. AbbVie comprises 0.6% of Cigna Investments Inc. New’s portfolio, making the stock its 25th biggest holding. Cigna Investments Inc. New’s holdings in AbbVie were worth $3,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ABBV. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of AbbVie in the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Truist Financial raised their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Bank of America reiterated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

ABBV stock opened at $190.31 on Tuesday. The company has a market capitalization of $336.30 billion, a PE ratio of 79.29, a P/E/G ratio of 1.53 and a beta of 0.58. The stock’s 50 day moving average is $177.54 and its two-hundred day moving average is $185.75. 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 Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the company posted $2.79 earnings per share. Analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.