AbbVie Inc. (NYSE:ABBV) Shares Sold by Polaris Capital Management LLC

Polaris Capital Management LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 227,879 shares of the company’s stock after selling 7,500 shares during the period. AbbVie accounts for about 2.0% of Polaris Capital Management LLC’s holdings, making the stock its 14th biggest position. Polaris Capital Management LLC’s holdings in AbbVie were worth $40,494,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie during the third quarter worth approximately $999,000. Saturna Capital Corp lifted its stake in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its position in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.2 %

Shares of NYSE:ABBV opened at $190.31 on Tuesday. 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 12-month low of $153.58 and a 12-month high of $207.32. The business has a fifty day simple moving average of $177.54 and a 200 day simple moving average of $185.75. The firm 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.

AbbVie (NYSE:ABBV) last issued 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 business earned $2.79 EPS. Analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale 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 company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ABBV. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Guggenheim boosted their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $208.35.

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.