AbbVie Inc. (NYSE:ABBV) Holdings Lowered by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% during the fourth quarter, HoldingsChannel reports. The firm owned 18,175 shares of the company’s stock after selling 187 shares during the period. AbbVie accounts for approximately 1.6% of Lazari Capital Management Inc.’s holdings, making the stock its 12th biggest position. Lazari Capital Management Inc.’s holdings in AbbVie were worth $2,817,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Counterweight Ventures LLC purchased a new position in shares of AbbVie during the fourth quarter valued at $2,451,000. Syon Capital LLC lifted its position in AbbVie by 43.6% in the 4th quarter. Syon Capital LLC now owns 16,334 shares of the company’s stock worth $2,531,000 after buying an additional 4,962 shares in the last quarter. Krane Funds Advisors LLC boosted its stake in shares of AbbVie by 62.9% during the 4th quarter. Krane Funds Advisors LLC now owns 2,959 shares of the company’s stock valued at $459,000 after buying an additional 1,142 shares during the period. Perceptive Advisors LLC acquired a new position in shares of AbbVie in the fourth quarter worth $36,883,000. Finally, Cardinal Capital Management Inc. increased its stake in shares of AbbVie by 0.3% in the fourth quarter. Cardinal Capital Management Inc. now owns 200,052 shares of the company’s stock worth $31,002,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV traded up $2.03 during mid-day trading on Friday, hitting $168.59. The company’s stock had a trading volume of 4,377,638 shares, compared to its average volume of 4,854,812. The stock’s 50-day moving average is $163.56 and its two-hundred day moving average is $165.60. The firm has a market capitalization of $297.71 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the prior year, the firm earned $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. As a group, sell-side analysts anticipate that AbbVie Inc. will post 11.26 EPS for the current year.

Insider Buying and Selling

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Guggenheim raised their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price for the company. Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Finally, BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $178.21.

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.