Empirical Finance LLC Sells 790 Shares of AbbVie Inc. (NYSE:ABBV)

Empirical Finance LLC decreased its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 60,148 shares of the company’s stock after selling 790 shares during the quarter. AbbVie comprises about 0.6% of Empirical Finance LLC’s portfolio, making the stock its 28th largest holding. Empirical Finance LLC’s holdings in AbbVie were worth $10,688,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of AbbVie by 19.6% during the 4th quarter. Empowered Funds LLC now owns 97,178 shares of the company’s stock worth $17,269,000 after acquiring an additional 15,934 shares during the last quarter. Seelaus Asset Management LLC increased its holdings in shares of AbbVie by 16.5% during the 4th quarter. Seelaus Asset Management LLC now owns 5,107 shares of the company’s stock worth $908,000 after acquiring an additional 725 shares during the last quarter. Counterweight Ventures LLC increased its holdings in shares of AbbVie by 3.4% during the 4th quarter. Counterweight Ventures LLC now owns 20,271 shares of the company’s stock worth $3,602,000 after acquiring an additional 675 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of AbbVie by 8.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 89,190 shares of the company’s stock worth $15,849,000 after acquiring an additional 6,967 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in shares of AbbVie by 11.6% during the 4th quarter. Apollon Wealth Management LLC now owns 79,230 shares of the company’s stock worth $14,079,000 after acquiring an additional 8,209 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $190.67 on Friday. The stock has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58. The stock has a 50-day moving average of $177.54 and a 200-day moving average of $185.60. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the firm posted $2.79 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current 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.