Beese Fulmer Investment Management Inc. Sells 206 Shares of AbbVie Inc. (NYSE:ABBV)

Beese Fulmer Investment Management Inc. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 35,112 shares of the company’s stock after selling 206 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in AbbVie were worth $6,239,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ABBV. GGM Financials LLC raised its holdings in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after acquiring an additional 50 shares during the period. Pine Haven Investment Counsel Inc boosted its stake in AbbVie by 0.3% during the 3rd quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. grew its holdings in AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. Sunflower Bank N.A. increased its position in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares during the period. Finally, Professional Financial Advisors LLC boosted its position in shares of AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after acquiring an additional 54 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday. 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 report on Friday, November 22nd. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $192.95 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market cap of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a 50 day moving average of $177.19 and a 200 day moving average of $185.43.

AbbVie (NYSE:ABBV) last released 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

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.