Patrick Mauro Investment Advisor INC. Has $4.87 Million Stake in AbbVie Inc. (NYSE:ABBV)

Patrick Mauro Investment Advisor INC. decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,398 shares of the company’s stock after selling 1,766 shares during the period. AbbVie accounts for 2.8% of Patrick Mauro Investment Advisor INC.’s investment portfolio, making the stock its 17th biggest holding. Patrick Mauro Investment Advisor INC.’s holdings in AbbVie were worth $4,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Pinkerton Retirement Specialists LLC increased its holdings in shares of AbbVie by 4.4% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 25,990 shares of the company’s stock worth $4,618,000 after purchasing an additional 1,086 shares during the period. 49 Wealth Management LLC increased its holdings in shares of AbbVie by 6.0% during the 4th quarter. 49 Wealth Management LLC now owns 5,303 shares of the company’s stock worth $942,000 after purchasing an additional 301 shares during the period. DCM Advisors LLC increased its holdings in shares of AbbVie by 3.9% during the 4th quarter. DCM Advisors LLC now owns 28,873 shares of the company’s stock worth $5,131,000 after purchasing an additional 1,078 shares during the period. Novem Group bought a new position in shares of AbbVie during the 4th quarter worth about $1,169,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of AbbVie by 14.8% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 338,238 shares of the company’s stock worth $60,105,000 after purchasing an additional 43,594 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ABBV has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Price Performance

Shares of AbbVie stock opened at $181.74 on Thursday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $321.02 billion, a price-to-earnings ratio of 75.72, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm’s 50-day moving average price is $189.64 and its two-hundred day moving average price is $186.68.

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

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.