BDF Gestion Reduces Position in AbbVie Inc. (NYSE:ABBV)

BDF Gestion trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 11.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,861 shares of the company’s stock after selling 6,996 shares during the period. AbbVie accounts for approximately 0.9% of BDF Gestion’s holdings, making the stock its 19th largest position. BDF Gestion’s holdings in AbbVie were worth $9,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Groupama Asset Managment increased its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter worth $28,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the 4th quarter worth $35,000. Marquette Asset Management LLC bought a new stake in AbbVie during the third quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. reduced their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Trading Up 0.2 %

ABBV stock opened at $175.21 on Thursday. The firm’s 50-day moving average is $176.22 and its 200 day moving average is $184.97. 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 Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a market capitalization of $309.62 billion, a PE ratio of 60.84, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

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.