FineMark National Bank & Trust Sells 941 Shares of AbbVie Inc. (NYSE:ABBV)

FineMark National Bank & Trust trimmed its position in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,888 shares of the company’s stock after selling 941 shares during the period. FineMark National Bank & Trust’s holdings in AbbVie were worth $6,213,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Steward Financial Group LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Maryland Capital Advisors Inc. acquired a new position in AbbVie in the fourth quarter worth about $41,000. Bell Investment Advisors Inc acquired a new position in AbbVie in the third quarter worth about $43,000. West Bancorporation Inc. acquired a new position in AbbVie in the fourth quarter worth about $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in AbbVie in the third quarter worth about $51,000. Institutional investors own 67.03% of the company’s stock.

Several research analysts recently issued reports on ABBV shares. Barclays increased their price target on shares of AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 12th. Bank of America raised their price objective on shares of AbbVie from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Thursday, February 3rd. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price objective for the company. in a report on Friday, May 6th. SVB Leerink assumed coverage on shares of AbbVie in a report on Monday. They set an “underperform” rating and a $140.00 price objective for the company. Finally, Citigroup raised their price objective on shares of AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $159.75.

In other news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction on Monday, May 16th. The shares were sold at an average price of $154.45, for a total transaction of $15,445,000.00. Following the transaction, the insider now directly owns 152,103 shares of the company’s stock, valued at $23,492,308.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Henry O. Gosebruch sold 15,000 shares of AbbVie stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.26, for a total transaction of $2,223,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 488,383 shares of company stock worth $74,384,651. Insiders own 0.08% of the company’s stock.

ABBV stock traded down $0.69 during midday trading on Monday, reaching $150.32. The company’s stock had a trading volume of 67,765 shares, compared to its average volume of 7,790,056. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91. The stock has a market cap of $265.63 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 4.26 and a beta of 0.83. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89. The business’s 50-day simple moving average is $158.13 and its 200-day simple moving average is $141.99.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The firm had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same period last year, the firm earned $2.95 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

About AbbVie (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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