AbbVie Inc. (NYSE:ABBV) Shares Sold by Mattson Financial Services LLC

Mattson Financial Services LLC decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 25.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,010 shares of the company's stock after selling 1,695 shares during the period. Mattson Financial Services LLC's holdings in AbbVie were worth $890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. Norges Bank acquired a new stake in shares of AbbVie in the fourth quarter valued at about $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie during the fourth quarter worth about $1,190,951,000. FMR LLC boosted its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during 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 acquiring an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in AbbVie by 24.3% during the fourth quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after acquiring an additional 3,373,156 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.0%

ABBV traded down $0.09 during trading hours on Friday, hitting $185.53. 11,606,785 shares of the company's stock were exchanged, compared to its average volume of 6,281,110. AbbVie Inc. has a 12-month low of $156.20 and a 12-month high of $218.66. The firm has a 50 day moving average of $185.97 and a 200 day moving average of $186.26. The firm has a market cap of $327.72 billion, a P/E ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Eight equities 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 stock. According to data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $210.95.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

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.