Baader Bank Aktiengesellschaft Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Baader Bank Aktiengesellschaft lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 54.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,916 shares of the company’s stock after selling 2,300 shares during the period. Baader Bank Aktiengesellschaft’s holdings in AbbVie were worth $340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the fourth quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie during the third quarter worth $39,000. Mizuho Securities Co. Ltd. boosted its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of AbbVie in the 3rd quarter valued at $39,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $175.54 on Friday. The firm has a market capitalization of $310.21 billion, a P/E ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58. The stock has a 50-day simple moving average of $176.37 and a two-hundred day simple moving average of $184.90. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Bank of America restated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. BMO Capital Markets lowered their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, Guggenheim upped their price target on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

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.