AbbVie Inc. $ABBV Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 86,140 shares of the company’s stock after selling 3,628 shares during the period. AbbVie makes up approximately 1.3% of Howe & Rusling Inc.’s investment portfolio, making the stock its 22nd largest position. Howe & Rusling Inc.’s holdings in AbbVie were worth $19,682,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Militia Capital Partners LP purchased a new stake in AbbVie during the 4th quarter worth about $274,000. Dempze Nancy E increased its position in AbbVie by 21.7% during the 4th quarter. Dempze Nancy E now owns 6,691 shares of the company’s stock worth $1,529,000 after purchasing an additional 1,192 shares in the last quarter. Opal Capital LLC purchased a new stake in AbbVie during the 4th quarter worth about $7,841,000. Rothschild Wealth LLC increased its position in AbbVie by 16.5% during the 4th quarter. Rothschild Wealth LLC now owns 24,379 shares of the company’s stock worth $5,570,000 after purchasing an additional 3,446 shares in the last quarter. Finally, Oddo BHF Asset Management Sas increased its position in AbbVie by 28.2% during the 4th quarter. Oddo BHF Asset Management Sas now owns 57,067 shares of the company’s stock worth $13,039,000 after purchasing an additional 12,552 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $222.62 on Wednesday. The stock has a market capitalization of $393.33 billion, a price-to-earnings ratio of 109.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.32. The business has a 50-day moving average of $211.58 and a two-hundred day moving average of $218.89. AbbVie Inc. has a 12 month low of $181.73 and a 12 month high of $244.81.

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

Analyst Ratings Changes

ABBV has been the subject of a number of recent research reports. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of AbbVie in a research report on Monday, June 8th. Piper Sandler lifted their price objective on AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Finally, Evercore set a $235.00 price objective on AbbVie in a research report on Friday, May 15th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

AbbVie 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.