Tobam Reduces Holdings in AbbVie Inc. (NYSE:ABBV)

Tobam lessened its stake in AbbVie Inc. (NYSE:ABBV) by 42.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,273 shares of the company’s stock after selling 28,694 shares during the period. AbbVie comprises 2.2% of Tobam’s portfolio, making the stock its 8th biggest holding. Tobam’s holdings in AbbVie were worth $6,979,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Groupama Asset Managment lifted its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie in the 4th quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ABBV shares. Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company raised their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Wolfe Research initiated coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Up 0.6 %

AbbVie stock opened at $192.95 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a 50 day moving average of $177.19 and a 200-day moving average of $185.43. The stock has a market capitalization of $340.96 billion, a PE ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 last year, the firm earned $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.