AbbVie Inc. (NYSE:ABBV) Position Decreased by Paulson Wealth Management Inc.

Paulson Wealth Management Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV) by 13.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,398 shares of the company’s stock after selling 1,108 shares during the period. Paulson Wealth Management Inc.’s holdings in AbbVie were worth $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABBV. Vanguard Group Inc. raised its holdings in AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after buying an additional 1,450,089 shares during the period. Morgan Stanley lifted its position in shares of AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after acquiring an additional 914,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares in the last quarter. Northern Trust Corp boosted its stake in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after purchasing an additional 491,391 shares during the period. Finally, Norges Bank purchased a new position in AbbVie during the 4th quarter worth approximately $3,229,888,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ABBV shares. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James increased their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $176.14.

AbbVie Stock Up 3.2 %

Shares of ABBV traded up $4.93 during mid-day trading on Friday, hitting $161.24. 15,664,434 shares of the company’s stock were exchanged, compared to its average volume of 4,481,604. The stock has a market cap of $284.73 billion, a price-to-earnings ratio of 47.85, a P/E/G ratio of 2.00 and a beta of 0.61. The firm has a fifty day moving average of $165.83 and a two-hundred day moving average of $163.83. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the business posted $2.46 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Activity at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

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.