BTC Capital Management Inc. Has $11.51 Million Stake in AbbVie Inc. (NYSE:ABBV)

BTC Capital Management Inc. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,758 shares of the company's stock after selling 2,446 shares during the period. AbbVie makes up 1.1% of BTC Capital Management Inc.'s portfolio, making the stock its 26th biggest position. BTC Capital Management Inc.'s holdings in AbbVie were worth $11,508,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ABBV. Hamilton Point Investment Advisors LLC raised its position in AbbVie by 16.5% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 6,156 shares of the company's stock worth $1,094,000 after acquiring an additional 872 shares in the last quarter. Keudell Morrison Wealth Management boosted its stake in shares of AbbVie by 1.5% during the 4th quarter. Keudell Morrison Wealth Management now owns 21,834 shares of the company's stock worth $3,880,000 after acquiring an additional 325 shares in the last quarter. Integris Wealth Management LLC boosted its position in shares of AbbVie by 5.3% in the 4th quarter. Integris Wealth Management LLC now owns 5,164 shares of the company's stock valued at $918,000 after purchasing an additional 259 shares during the period. CMG Global Holdings LLC increased its stake in AbbVie by 1.6% in the 4th quarter. CMG Global Holdings LLC now owns 3,896 shares of the company's stock worth $659,000 after purchasing an additional 61 shares in the last quarter. Finally, Evernest Financial Advisors LLC raised its holdings in AbbVie by 296.1% during the 4th quarter. Evernest Financial Advisors LLC now owns 5,355 shares of the company's stock worth $952,000 after buying an additional 4,003 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $6.35 during midday trading on Monday, hitting $190.25. The company's stock had a trading volume of 6,382,326 shares, compared to its average volume of 6,206,350. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock's 50 day simple moving average is $176.57 and its 200 day simple moving average is $185.13. The stock has a market capitalization of $336.19 billion, a price-to-earnings ratio of 79.29, a PEG ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 period last year, the business posted $2.79 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several analyst reports. Daiwa America downgraded shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Piper Sandler Companies reissued an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the stock an "overweight" rating in a research report on Monday. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an "outperform" rating and a $205.00 price target on the stock. Finally, Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a "market perform" rating and a $203.00 price objective for the company. Five investment 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $208.35.

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.