Everett Harris & Co. CA Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Everett Harris & Co. CA lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 528,057 shares of the company’s stock after selling 813 shares during the period. AbbVie makes up about 1.2% of Everett Harris & Co. CA’s portfolio, making the stock its 18th biggest holding. Everett Harris & Co. CA’s holdings in AbbVie were worth $93,836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie in the third quarter worth $999,000. Saturna Capital Corp raised its stake in AbbVie by 486.1% in the 3rd 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 during the last quarter. Everence Capital Management Inc. lifted its position 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 acquiring an additional 15,550 shares during the period. GAMMA Investing LLC increased its holdings in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Guggenheim upped their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Buying and Selling at AbbVie

In related 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 transaction of $310,032.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

Shares of ABBV opened at $183.90 on Friday. The firm has a 50-day simple moving average of $176.43 and a two-hundred day simple moving average of $184.84. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $324.98 billion, a PE ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same period last year, the firm earned $2.79 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 10.09 EPS for the current 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.