Beese Fulmer Investment Management Inc. Sells 206 Shares of AbbVie Inc. (NYSE:ABBV)

Beese Fulmer Investment Management Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,112 shares of the company’s stock after selling 206 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in AbbVie were worth $6,239,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp grew its position in shares of 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 buying an additional 560,808 shares during the last quarter. Everence Capital Management Inc. lifted its position in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC grew its stake in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $192.95 on Friday. The firm has a market capitalization of $340.96 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The business’s 50-day moving average is $177.19 and its two-hundred day moving average is $185.43. 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 (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the business posted $2.79 earnings per share. Research analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ABBV shares. Wells Fargo & Company upped their price target on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five equities 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.