Highview Capital Management LLC DE Sells 218 Shares of AbbVie Inc. (NYSE:ABBV)

Highview Capital Management LLC DE trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,915 shares of the company’s stock after selling 218 shares during the period. Highview Capital Management LLC DE’s holdings in AbbVie were worth $873,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in ABBV. Norges Bank bought a new position in shares of AbbVie in the 4th quarter valued at approximately $4,459,385,000. Raymond James Financial Inc. acquired a new stake in AbbVie in the 4th quarter valued at approximately $1,190,951,000. FMR LLC grew its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after buying an additional 3,373,156 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at approximately $8,985,223.60. This represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’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 transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,693 shares of company stock worth $22,282,985. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

AbbVie Price Performance

AbbVie stock opened at $181.74 on Thursday. The business’s fifty day moving average is $189.64 and its two-hundred day moving average is $186.68. 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 firm has a market cap of $321.02 billion, a P/E ratio of 75.72, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the company posted $2.31 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.