Jennison Associates LLC Lowers Holdings in AbbVie Inc. (NYSE:ABBV)

Jennison Associates LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 49.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 874,071 shares of the company’s stock after selling 857,207 shares during the period. Jennison Associates LLC’s holdings in AbbVie were worth $155,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. One Wealth Advisors LLC raised its position in AbbVie by 73.2% in the fourth quarter. One Wealth Advisors LLC now owns 2,378 shares of the company’s stock valued at $423,000 after purchasing an additional 1,005 shares during the period. Lederer & Associates Investment Counsel CA acquired a new stake in shares of AbbVie in the fourth quarter valued at $1,834,000. Catalina Capital Group LLC grew its stake in shares of AbbVie by 5.5% in the fourth quarter. Catalina Capital Group LLC now owns 10,670 shares of the company’s stock valued at $1,896,000 after buying an additional 557 shares in the last quarter. S.A. Mason LLC raised its holdings in shares of AbbVie by 0.8% in the 4th quarter. S.A. Mason LLC now owns 12,745 shares of the company’s stock valued at $2,265,000 after buying an additional 104 shares during the period. Finally, Princeton Global Asset Management LLC boosted its holdings in AbbVie by 0.9% during the 4th quarter. Princeton Global Asset Management LLC now owns 29,932 shares of the company’s stock valued at $5,319,000 after acquiring an additional 273 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $183.90 on Monday. The company’s 50 day simple moving average is $176.57 and its 200-day simple moving average is $185.13. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm has a market cap of $324.98 billion, a PE ratio of 76.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the firm earned $2.79 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of recent research reports. Wolfe Research started coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.00.

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.