TCV Trust & Wealth Management Inc. Sells 867 Shares of AbbVie Inc. (NYSE:ABBV)

TCV Trust & Wealth Management Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,229 shares of the company’s stock after selling 867 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in AbbVie were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Montz Harcus Wealth Management LLC lifted its holdings in shares of AbbVie by 12.5% in the fourth quarter. Montz Harcus Wealth Management LLC now owns 2,204 shares of the company’s stock worth $392,000 after buying an additional 245 shares in the last quarter. Leavell Investment Management Inc. increased its holdings in AbbVie by 0.8% during the 4th quarter. Leavell Investment Management Inc. now owns 79,674 shares of the company’s stock worth $14,158,000 after acquiring an additional 629 shares during the period. Portfolio Design Labs LLC lifted its stake in AbbVie by 27.1% in the 4th quarter. Portfolio Design Labs LLC now owns 20,654 shares of the company’s stock worth $3,670,000 after purchasing an additional 4,404 shares in the last quarter. Fishman Jay A Ltd. MI lifted its stake in AbbVie by 1.4% in the 4th quarter. Fishman Jay A Ltd. MI now owns 68,907 shares of the company’s stock worth $12,245,000 after purchasing an additional 954 shares in the last quarter. Finally, Latitude Advisors LLC boosted its holdings in AbbVie by 380.5% in the 4th quarter. Latitude Advisors LLC now owns 12,354 shares of the company’s stock valued at $2,195,000 after purchasing an additional 9,783 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

AbbVie stock opened at $191.81 on Wednesday. The firm has a fifty day simple moving average of $177.71 and a two-hundred day simple moving average of $185.81. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a market capitalization of $338.96 billion, a PE ratio of 79.92, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business posted $2.79 earnings per share. Research analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on 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 owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABBV shares. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.