Wimmer Associates 1 LLC Sells 560 Shares of AbbVie Inc. (NYSE:ABBV)

Wimmer Associates 1 LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 3.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,793 shares of the company’s stock after selling 560 shares during the quarter. AbbVie accounts for 1.3% of Wimmer Associates 1 LLC’s investment portfolio, making the stock its 20th largest holding. Wimmer Associates 1 LLC’s holdings in AbbVie were worth $2,629,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter worth about $29,000. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in shares of AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter worth about $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

NYSE ABBV opened at $184.02 on Monday. The company has a market capitalization of $325.06 billion, a PE ratio of 76.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business’s fifty day moving average is $191.30 and its 200 day moving average is $186.85. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ABBV shares. Citigroup reiterated a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Finally, Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $210.95.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company’s stock, valued at $4,429,199.90. The trade was a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.