Chevy Chase Trust Holdings LLC Sells 20,317 Shares of AbbVie Inc. (NYSE:ABBV)

Chevy Chase Trust Holdings LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 4th quarter, Holdings Channel reports. The firm owned 961,279 shares of the company’s stock after selling 20,317 shares during the period. AbbVie makes up 0.5% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 29th largest holding. Chevy Chase Trust Holdings LLC’s holdings in AbbVie were worth $170,819,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the third quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the fourth quarter valued at approximately $35,000. Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in AbbVie in the third quarter valued at approximately $39,000. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABBV shares. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $193.54 on Friday. The firm has a market cap of $342.00 billion, a PE ratio of 80.64, 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 quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm’s fifty day moving average is $178.24 and its 200-day moving average is $185.91.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the business posted $2.79 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

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.