AbbVie Inc. (NYSE:ABBV) Shares Sold by Commerce Bank

Commerce Bank lessened its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 494,147 shares of the company’s stock after selling 4,798 shares during the quarter. Commerce Bank’s holdings in AbbVie were worth $76,578,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ABBV. WealthPlan Investment Management LLC increased its position in shares of AbbVie by 664.4% during the third quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock valued at $8,466,000 after acquiring an additional 49,365 shares during the last quarter. Larson Financial Group LLC raised its position in AbbVie by 26.9% in the third quarter. Larson Financial Group LLC now owns 2,530 shares of the company’s stock valued at $377,000 after purchasing an additional 536 shares during the period. Jackson Creek Investment Advisors LLC acquired a new position in AbbVie during the third quarter worth $214,000. Winthrop Advisory Group LLC boosted its position in shares of AbbVie by 3.6% during the third quarter. Winthrop Advisory Group LLC now owns 3,562 shares of the company’s stock worth $531,000 after buying an additional 124 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of AbbVie in the 3rd quarter valued at $3,183,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV stock traded down $0.77 on Thursday, reaching $158.84. The company had a trading volume of 2,808,709 shares, compared to its average volume of 5,499,026. 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 fifty day moving average is $168.81 and its 200 day moving average is $162.98. The company has a market cap of $280.49 billion, a P/E ratio of 47.29, a PEG ratio of 2.09 and a beta of 0.61. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.46 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABBV. BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. 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 AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Cantor Fitzgerald started coverage on AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price for the company. Finally, Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $176.14.

Insider Transactions at AbbVie

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold a total of 330,454 shares of company stock worth $58,595,955 in the last three months. Company insiders own 0.25% 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.