MADDEN SECURITIES Corp Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

MADDEN SECURITIES Corp reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,855 shares of the company’s stock after selling 475 shares during the quarter. MADDEN SECURITIES Corp’s holdings in AbbVie were worth $2,107,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Groupama Asset Managment boosted its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.2 %

AbbVie stock opened at $190.31 on Tuesday. The company’s 50-day moving average price is $177.54 and its two-hundred day moving average price is $185.75. The stock has a market cap of $336.30 billion, a price-to-earnings ratio of 79.29, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week 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.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS 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 period in the prior year, the firm posted $2.79 EPS. On average, analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on ABBV shares. Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. Morgan Stanley lifted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

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.