Bank Hapoalim BM Sells 1,843 Shares of AbbVie Inc. (NYSE:ABBV)

Bank Hapoalim BM lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 9.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,602 shares of the company’s stock after selling 1,843 shares during the period. Bank Hapoalim BM’s holdings in AbbVie were worth $3,128,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the fourth quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC acquired a new stake in AbbVie in the third quarter worth $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $189.97 on Wednesday. The stock has a market capitalization of $335.71 billion, a P/E ratio of 79.16, a PEG ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50 day moving average is $176.84 and its 200 day moving average is $185.26. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $2.79 EPS. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Finally, Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.