Empirical Finance LLC Has $10.69 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Empirical Finance LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,148 shares of the company’s stock after selling 790 shares during the quarter. AbbVie makes up about 0.6% of Empirical Finance LLC’s holdings, making the stock its 28th biggest position. Empirical Finance LLC’s holdings in AbbVie were worth $10,688,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Groupama Asset Managment boosted its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie in the 4th quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. boosted its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ABBV. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Citigroup increased their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research note on Tuesday, December 17th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wells Fargo & Company increased their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.2 %

Shares of NYSE ABBV opened at $190.67 on Friday. The company’s 50 day simple moving average is $177.54 and its 200 day simple moving average is $185.60. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the firm posted $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

AbbVie 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.