State of Alaska Department of Revenue Sells 24,120 Shares of AbbVie Inc. (NYSE:ABBV)

State of Alaska Department of Revenue reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,614 shares of the company’s stock after selling 24,120 shares during the quarter. AbbVie accounts for about 0.5% of State of Alaska Department of Revenue’s holdings, making the stock its 21st biggest position. State of Alaska Department of Revenue’s holdings in AbbVie were worth $48,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the 4th quarter worth about $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position 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 in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

AbbVie stock opened at $191.74 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $338.82 billion, a PE ratio of 79.89, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The firm’s 50 day simple moving average is $177.01 and its 200 day simple moving average is $185.38.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $2.79 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABBV shares. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.