AbbVie Inc. (NYSE:ABBV) is Ferguson Wellman Capital Management Inc.’s 9th Largest Position

Ferguson Wellman Capital Management Inc. cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 628,154 shares of the company’s stock after selling 5,592 shares during the quarter. AbbVie accounts for approximately 2.1% of Ferguson Wellman Capital Management Inc.’s holdings, making the stock its 9th biggest holding. Ferguson Wellman Capital Management Inc.’s holdings in AbbVie were worth $111,623,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ABBV. AMF Tjanstepension AB bought a new position in AbbVie during the 3rd quarter worth approximately $8,777,000. Fiduciary Financial Group LLC purchased a new stake in shares of AbbVie during the third quarter valued at approximately $283,000. Montis Financial LLC bought a new position in shares of AbbVie in the third quarter worth approximately $522,000. Cardinal Capital Management Inc. increased its stake in shares of AbbVie by 0.3% in the third quarter. Cardinal Capital Management Inc. now owns 197,427 shares of the company’s stock worth $38,988,000 after buying an additional 588 shares during the period. Finally, Carnegie Investment Counsel raised its holdings in AbbVie by 3.4% during the 3rd quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock valued at $7,589,000 after buying an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV opened at $190.67 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58. The business’s 50 day moving average price is $177.54 and its 200-day moving average price is $185.69. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last released 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 company earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on ABBV. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Guggenheim boosted their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a report on Friday, November 22nd. Five investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.