GTS Securities LLC Cuts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

GTS Securities LLC decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 93.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,415 shares of the company's stock after selling 111,207 shares during the quarter. GTS Securities LLC's holdings in AbbVie were worth $1,495,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ABBV. Norges Bank bought a new position in shares of AbbVie during the fourth quarter valued at $4,459,385,000. Raymond James Financial Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $1,190,951,000. FMR LLC increased its stake in AbbVie by 32.8% during the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of AbbVie by 24.3% in the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $2.74 during mid-day trading on Wednesday, reaching $182.98. 4,780,091 shares of the company traded hands, compared to its average volume of 6,246,349. The company's 50 day moving average price is $187.30 and its 200-day moving average price is $186.11. The firm has a market cap of $323.22 billion, a PE ratio of 76.24, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. On average, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on ABBV. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. UBS Group upped their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.95.

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.