Ceera Investments LLC Sells 3,757 Shares of AbbVie Inc. $ABBV

Ceera Investments LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 40.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,624 shares of the company’s stock after selling 3,757 shares during the period. Ceera Investments LLC’s holdings in AbbVie were worth $1,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Wellington Management Group LLP grew its holdings in AbbVie by 457.4% during the 3rd quarter. Wellington Management Group LLP now owns 10,536,901 shares of the company’s stock worth $2,439,714,000 after acquiring an additional 8,646,424 shares in the last quarter. Vanguard Group Inc. grew its holdings in AbbVie by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 180,779,699 shares of the company’s stock worth $41,306,353,000 after acquiring an additional 3,032,438 shares in the last quarter. Raymond James Financial Inc. grew its holdings in AbbVie by 41.8% during the 2nd quarter. Raymond James Financial Inc. now owns 9,337,480 shares of the company’s stock worth $1,733,222,000 after acquiring an additional 2,753,312 shares in the last quarter. Alliancebernstein L.P. grew its holdings in AbbVie by 31.8% during the 3rd quarter. Alliancebernstein L.P. now owns 7,281,327 shares of the company’s stock worth $1,685,918,000 after acquiring an additional 1,758,657 shares in the last quarter. Finally, Amundi boosted its holdings in shares of AbbVie by 15.6% in the 3rd quarter. Amundi now owns 10,508,317 shares of the company’s stock valued at $2,418,909,000 after buying an additional 1,414,621 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Evercore set a $235.00 price target on shares of AbbVie in a report on Friday, May 15th. Piper Sandler increased their target price on shares of AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday, May 14th. Morgan Stanley increased their target price on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 17th. Finally, DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $253.43.

AbbVie Stock Up 0.1%

Shares of AbbVie stock opened at $216.02 on Tuesday. The firm has a market capitalization of $381.65 billion, a P/E ratio of 106.41, a PEG ratio of 0.74 and a beta of 0.32. The company has a 50 day moving average price of $208.53 and a 200 day moving average price of $219.73. AbbVie Inc. has a 52 week low of $181.71 and a 52 week high of $244.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.72 billion. During the same period last year, the firm posted $2.46 EPS. AbbVie’s revenue was up 12.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Perry C. Siatis sold 22,381 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $230.00, for a total transaction of $5,147,630.00. Following the sale, the executive vice president directly owned 38,137 shares of the company’s stock, valued at $8,771,510. The trade was a 36.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP David Ryan Purdue sold 5,230 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the sale, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by insiders.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.