Fulcrum Equity Management Sells 3,534 Shares of AbbVie Inc. (NYSE:ABBV)

Fulcrum Equity Management lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 49.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,671 shares of the company's stock after selling 3,534 shares during the quarter. Fulcrum Equity Management's holdings in AbbVie were worth $652,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at $29,000. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $32,000. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI lifted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's 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 sale, the executive vice president now owns 53,234 shares in the company, valued at $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 is available at this hyperlink. Insiders own 0.08% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $0.09 during mid-day trading on Friday, reaching $185.53. The company had a trading volume of 11,606,785 shares, compared to its average volume of 6,281,167. The firm has a market cap of $327.72 billion, a price-to-earnings ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56. The company's 50-day moving average price is $185.97 and its 200-day moving average price is $186.26. 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 one year low of $156.20 and a one year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $2.31 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Company 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.