Trust Point Inc. Sells 1,241 Shares of AbbVie Inc. (NYSE:ABBV)

Trust Point Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 10.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,494 shares of the company’s stock after selling 1,241 shares during the period. Trust Point Inc.’s holdings in AbbVie were worth $1,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. AMF Tjanstepension AB acquired a new position in AbbVie during the 3rd quarter worth about $8,777,000. Czech National Bank lifted its holdings in AbbVie by 6.9% during the 3rd quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after buying an additional 23,320 shares during the period. GAMMA Investing LLC lifted its stake in shares of AbbVie by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock valued at $7,112,000 after purchasing an additional 8,014 shares during the period. WealthBridge Capital Management LLC lifted its stake in shares of AbbVie by 8.6% in the 3rd quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock valued at $2,420,000 after purchasing an additional 972 shares during the period. Finally, Diversified Trust Co lifted its stake in shares of AbbVie by 9.1% in the 3rd quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock valued at $7,892,000 after purchasing an additional 3,324 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $190.20 on Tuesday. The firm has a market cap of $336.12 billion, a PE ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business has a 50 day moving average of $176.57 and a 200-day moving average of $185.13. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABBV. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research note on Friday, November 22nd. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company boosted their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. TD Cowen boosted their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.