Wimmer Associates 1 LLC Sells 560 Shares of AbbVie Inc. (NYSE:ABBV)

Wimmer Associates 1 LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,793 shares of the company’s stock after selling 560 shares during the quarter. AbbVie comprises 1.3% of Wimmer Associates 1 LLC’s holdings, making the stock its 20th largest holding. Wimmer Associates 1 LLC’s holdings in AbbVie were worth $2,629,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after acquiring an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $4,459,385,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 1.3%

ABBV stock opened at $184.02 on Monday. The stock has a market cap of $325.06 billion, a P/E ratio of 76.68, a P/E/G ratio of 1.62 and a beta of 0.56. The stock’s fifty day simple moving average is $191.30 and its two-hundred day simple moving average is $186.85. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on ABBV shares. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Citigroup restated a “neutral” rating and set a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

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.