Wellington Wealth Strategies LLC. Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Wellington Wealth Strategies LLC. reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 56.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,882 shares of the company's stock after selling 2,475 shares during the quarter. Wellington Wealth Strategies LLC.'s holdings in AbbVie were worth $364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Crestline Management LP lifted its position in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. grew its holdings in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares in the last quarter. Finally, Sky Investment Group LLC grew its holdings in AbbVie by 10.1% during the 4th quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock valued at $7,590,000 after buying an additional 3,936 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.3%

AbbVie stock traded up $0.52 during trading hours on Thursday, reaching $182.32. The company had a trading volume of 4,684,698 shares, compared to its average volume of 6,253,258. 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 Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The company has a 50-day moving average price of $189.64 and a 200 day moving average price of $186.68. The firm has a market cap of $322.05 billion, a price-to-earnings ratio of 75.97, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The company 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 firm's revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,693 shares of company stock valued at $22,282,985 over the last ninety days. 0.25% of the stock is owned by insiders.

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.