FUKOKU MUTUAL LIFE INSURANCE Co lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,342 shares of the company’s stock after selling 400 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in AbbVie were worth $8,394,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ABBV. CVA Family Office LLC bought a new stake in AbbVie during the 3rd quarter worth about $26,000. Harding Loevner LP grew its holdings in AbbVie by 118.4% during the 3rd quarter. Harding Loevner LP now owns 332 shares of the company’s stock worth $29,000 after acquiring an additional 180 shares during the last quarter. James Investment Research Inc. bought a new stake in AbbVie during the 3rd quarter worth about $32,000. Roble Belko & Company Inc grew its holdings in AbbVie by 70.8% during the 3rd quarter. Roble Belko & Company Inc now owns 415 shares of the company’s stock worth $36,000 after acquiring an additional 172 shares during the last quarter. Finally, Horrell Capital Management Inc. bought a new stake in AbbVie during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 67.49% of the company’s stock.
In other AbbVie news, EVP Timothy J. Richmond sold 51,990 shares of the stock in a transaction that occurred on Friday, November 27th. The stock was sold at an average price of $105.00, for a total transaction of $5,458,950.00. Following the transaction, the executive vice president now directly owns 51,990 shares in the company, valued at approximately $5,458,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 25,290 shares of the stock in a transaction that occurred on Tuesday, December 29th. The stock was sold at an average price of $105.00, for a total value of $2,655,450.00. Following the transaction, the executive vice president now owns 76,259 shares in the company, valued at $8,007,195. The disclosure for this sale can be found here. Insiders have sold a total of 308,884 shares of company stock worth $30,552,196 over the last 90 days. Company insiders own 0.09% of the company’s stock.
Shares of AbbVie stock opened at $104.21 on Friday. The stock has a market cap of $183.98 billion, a PE ratio of 22.03, a PEG ratio of 1.54 and a beta of 0.84. The firm has a 50-day moving average of $107.04 and a 200-day moving average of $96.97. AbbVie Inc. has a 52-week low of $62.55 and a 52-week high of $113.41. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 30th. The company reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.75 by $0.08. The firm had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.71 billion. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The company’s revenue for the quarter was up 51.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 EPS. Equities research analysts predict that AbbVie Inc. will post 10.48 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the stock. SVB Leerink raised their target price on shares of AbbVie from $119.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, December 16th. Morgan Stanley reduced their target price on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating on the stock in a research note on Thursday. Truist started coverage on shares of AbbVie in a research note on Friday, October 23rd. They issued a “buy” rating and a $110.00 target price on the stock. Mizuho lifted their price objective on shares of AbbVie from $111.00 to $117.00 in a research note on Tuesday, December 15th. Finally, BMO Capital Markets started coverage on shares of AbbVie in a research note on Wednesday, November 18th. They set an “outperform” rating and a $123.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.28.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m’s macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
Further Reading: Outstanding Shares and The Effect on Share Price
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