Asset Dedication LLC Has $2.10 Million Stake in AbbVie Inc. (NYSE:ABBV)

Asset Dedication LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 27.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,826 shares of the company's stock after selling 4,388 shares during the period. Asset Dedication LLC's holdings in AbbVie were worth $2,101,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. State Street Corp grew its holdings in AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. FMR LLC grew its stake in shares of AbbVie by 3.9% during the third quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock worth $2,009,542,000 after acquiring an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company's stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ABBV shares. Piper Sandler Companies reaffirmed an "overweight" rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Daiwa America cut AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Morgan Stanley reduced their price objective on AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They issued a "market perform" rating and a $203.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.40 during midday trading on Wednesday, reaching $175.21. The company's stock had a trading volume of 3,703,730 shares, compared to its average volume of 5,950,040. The company has a market cap of $309.62 billion, a price-to-earnings ratio of 60.84, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a 50 day moving average price of $176.22 and a 200 day moving average price of $184.97.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts' consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

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.