Lee Financial Co Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Lee Financial Co lowered its position in AbbVie Inc. (NYSE:ABBVFree Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,972 shares of the company’s stock after selling 106 shares during the quarter. AbbVie accounts for 0.4% of Lee Financial Co’s investment portfolio, making the stock its 28th biggest position. Lee Financial Co’s holdings in AbbVie were worth $2,010,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $44,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the third quarter worth about $45,000. Core Wealth Advisors Inc. increased its position in shares of AbbVie by 459.7% during the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Bourgeon Capital Management LLC increased its position in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Finally, Naples Money Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays lowered their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Raymond James boosted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Cantor Fitzgerald assumed coverage on AbbVie in a report on Friday. They issued an “overweight” rating and a $200.00 price objective for the company. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets lowered their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $176.14.

Get Our Latest Report on ABBV

AbbVie Price Performance

Shares of AbbVie stock traded up $2.07 on Friday, hitting $166.42. The company had a trading volume of 5,152,176 shares, compared to its average volume of 5,284,928. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a market cap of $293.88 billion, a PE ratio of 49.38, a PEG ratio of 2.08 and a beta of 0.61. The business has a 50-day simple moving average of $169.88 and a 200-day simple moving average of $162.41. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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