Centaurus Financial Inc. Sells 863 Shares of AbbVie Inc. (NYSE:ABBV)

Centaurus Financial Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,636 shares of the company’s stock after selling 863 shares during the quarter. Centaurus Financial Inc.’s holdings in AbbVie were worth $1,183,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $26,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $33,000. Clarity Asset Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $42,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $44,000. Finally, Clear Investment Research LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at approximately $48,000. Institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald assumed coverage on AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target for the company. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.21.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $2.03 during mid-day trading on Friday, hitting $168.59. The stock had a trading volume of 4,377,638 shares, compared to its average volume of 4,854,812. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a 50 day moving average of $163.56 and a two-hundred day moving average of $165.80. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a market cap of $297.71 billion, a PE ratio of 50.03, a PEG ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned $2.46 EPS. Research analysts predict that AbbVie Inc. will post 11.26 EPS 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.