AbbVie Inc. (NYSE:ABBV) is Sepio Capital LP’s 6th Largest Position

Sepio Capital LP cut its holdings in AbbVie Inc. (NYSE:ABBV) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 162,791 shares of the company’s stock after selling 17,328 shares during the period. AbbVie comprises about 2.1% of Sepio Capital LP’s holdings, making the stock its 6th biggest position. Sepio Capital LP’s holdings in AbbVie were worth $25,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. American National Bank lifted its position in shares of AbbVie by 4.8% during the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares in the last quarter. AXS Investments LLC raised its position in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after buying an additional 165 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in shares of AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after buying an additional 7,737 shares during the last quarter. Finally, Torray Investment Partners LLC grew its stake in shares of AbbVie by 13.0% during the third quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after buying an additional 2,446 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial raised their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $176.14.

Insiders Place Their Bets

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AbbVie news, COO Robert A. Michael sold 68,879 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the completion of the transaction, the chief operating officer now directly owns 98,645 shares in the company, valued at approximately $17,405,910.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 302,561 shares of company stock valued at $53,645,658. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.8 %

Shares of NYSE ABBV traded down $1.19 during mid-day trading on Friday, reaching $157.07. The company had a trading volume of 3,689,906 shares, compared to its average volume of 5,511,237. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a 50 day simple moving average of $168.36 and a two-hundred day simple moving average of $162.95. The stock has a market cap of $277.37 billion, a P/E ratio of 46.61, a PEG ratio of 2.04 and a beta of 0.61. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm posted $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 11.26 earnings per share 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.