Commerce Bank Reduces Position in AbbVie Inc. (NYSE:ABBV)

Commerce Bank lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 494,147 shares of the company’s stock after selling 4,798 shares during the period. Commerce Bank’s holdings in AbbVie were worth $76,578,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. bought a new position in AbbVie in the 4th quarter valued at approximately $44,000. Core Wealth Advisors Inc. boosted 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 valued at $52,000 after buying an additional 285 shares during the last quarter. Bourgeon Capital Management LLC grew its stake in shares of AbbVie by 240.0% in 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 period. Naples Money Management LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $53,000. Finally, Rakuten Securities Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $57,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value 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 available through this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,454 shares of company stock worth $58,595,955. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABBV shares. Guggenheim increased their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective on the stock. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Raymond James upped their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

AbbVie Trading Down 0.5 %

ABBV traded down $0.77 on Thursday, hitting $158.84. The company had a trading volume of 2,808,709 shares, compared to its average volume of 5,499,026. The business’s fifty day simple moving average is $168.81 and its 200 day simple moving average is $162.98. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a market cap of $280.49 billion, a PE ratio of 47.29, a PEG ratio of 2.09 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.46 EPS. Equities research analysts expect that AbbVie Inc. will post 11.26 EPS for the current year.

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.