Fulton Breakefield Broenniman LLC Has $15.94 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Fulton Breakefield Broenniman LLC lessened its position in AbbVie Inc. (NYSE:ABBV) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 89,711 shares of the company’s stock after selling 1,053 shares during the period. AbbVie makes up about 1.1% of Fulton Breakefield Broenniman LLC’s holdings, making the stock its 28th largest position. Fulton Breakefield Broenniman LLC’s holdings in AbbVie were worth $15,942,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. lifted its holdings in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie in the third quarter worth $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Guggenheim raised their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley reduced their price target on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $205.00.

AbbVie Stock Down 1.1 %

ABBV stock opened at $174.88 on Wednesday. The company has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The business’s 50 day moving average price is $176.05 and its two-hundred day moving average price is $184.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 EPS. As a group, analysts forecast that AbbVie Inc. will post 10.06 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.