AbbVie Inc. (NYSE:ABBV) Shares Sold by TBH Global Asset Management LLC

TBH Global Asset Management LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,194 shares of the company’s stock after selling 341 shares during the period. TBH Global Asset Management LLC’s holdings in AbbVie were worth $1,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Team Hewins LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $1,409,000. Oxford Asset Management LLP acquired a new stake in shares of AbbVie in the fourth quarter valued at about $530,000. Cypress Asset Management Inc. TX acquired a new stake in shares of AbbVie in the fourth quarter valued at about $1,081,000. TCW Group Inc. increased its position in AbbVie by 10.3% during the fourth quarter. TCW Group Inc. now owns 340,671 shares of the company’s stock worth $52,788,000 after purchasing an additional 31,748 shares during the last quarter. Finally, SageView Advisory Group LLC increased its position in AbbVie by 73.7% during the fourth quarter. SageView Advisory Group LLC now owns 22,298 shares of the company’s stock worth $3,677,000 after purchasing an additional 9,460 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV stock traded down $1.20 during trading hours on Friday, reaching $157.06. 3,604,034 shares of the company’s stock were exchanged, compared to its average volume of 5,510,382. The stock has a market capitalization of $277.35 billion, a P/E ratio of 46.76, a P/E/G ratio of 2.04 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The business has a fifty day moving average price of $168.36 and a 200-day moving average price of $162.95.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 earnings per share. Analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on ABBV. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $176.14.

Insider Activity

In other news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert A. Michael sold 68,879 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.45, for a total value of $12,153,699.55. Following the completion of the transaction, the chief operating officer now directly owns 98,645 shares in the company, valued at approximately $17,405,910.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,561 shares of company stock worth $53,645,658. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.