AbbVie Inc. (NYSE:ABBV) Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 68.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,267 shares of the company's stock after selling 22,626 shares during the quarter. Princeton Capital Management LLC's holdings in AbbVie were worth $1,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. purchased a new position in shares of AbbVie in the fourth quarter valued at $44,000. Horrell Capital Management Inc. purchased a new position in AbbVie in the 3rd quarter valued at about $45,000. Bourgeon Capital Management LLC grew its stake in shares of AbbVie by 240.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 340 shares of the company's stock valued at $53,000 after acquiring an additional 240 shares in the last quarter. Naples Money Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $53,000. Finally, Core Wealth Advisors Inc. lifted its stake in shares of AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company's stock worth $52,000 after acquiring an additional 285 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the completion of the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at $42,375,512.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,324 shares of company stock worth $67,780,003. Insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock traded up $2.07 on Friday, reaching $166.42. 4,951,883 shares of the company were exchanged, compared to its average volume of 5,558,989. The firm has a market cap of $293.88 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company's 50-day moving average is $169.88 and its two-hundred day moving average is $162.41.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 earnings per share. The firm's revenue for the quarter was up .7% on a year-over-year basis. As a group, research analysts expect that AbbVie Inc. will post 11.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Friday. They set an "overweight" rating and a $200.00 price objective for the company. Barclays decreased their price target on shares of AbbVie from $195.00 to $187.00 and set an "overweight" rating for the company in a research report on Monday, April 29th. William Blair raised shares of AbbVie from a "market perform" rating to an "outperform" rating in a report on Monday, January 29th. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. Finally, BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating on the stock in a research report on Monday, April 29th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus price target of $176.14.

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.

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