AbbVie Inc. (NYSE:ABBV) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,338 shares of the company’s stock after selling 3,597 shares during the period. AbbVie accounts for approximately 1.3% of Sawgrass Asset Management LLC’s portfolio, making the stock its 27th largest position. Sawgrass Asset Management LLC’s holdings in AbbVie were worth $11,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB purchased a new position in AbbVie during the third quarter worth about $8,777,000. Creative Planning raised its holdings in AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company’s stock worth $147,086,000 after purchasing an additional 40,925 shares in the last quarter. Swedbank AB increased its holdings in AbbVie by 0.3% in the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares in the last quarter. Luts & Greenleigh Group Inc. increased its holdings in AbbVie by 1.0% in the third quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock valued at $2,717,000 after buying an additional 131 shares in the last quarter. Finally, Magnus Financial Group LLC increased its holdings in AbbVie by 10.2% in the third quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock valued at $1,773,000 after buying an additional 829 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ABBV. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

AbbVie stock opened at $193.06 on Thursday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a market capitalization of $341.16 billion, a price-to-earnings ratio of 80.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm’s fifty day moving average price is $177.91 and its 200 day moving average price is $185.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 last year, the business earned $2.79 EPS. On average, research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

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.