Baker Boyer National Bank Has $265,000 Holdings in AbbVie Inc. (NYSE:ABBV)

Baker Boyer National Bank reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 11.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,494 shares of the company’s stock after selling 190 shares during the quarter. Baker Boyer National Bank’s holdings in AbbVie were worth $265,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in AbbVie by 0.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock valued at $38,948,000 after buying an additional 1,843 shares during the period. Invst LLC grew its holdings in shares of AbbVie by 23.0% in the 2nd quarter. Invst LLC now owns 4,133 shares of the company’s stock worth $704,000 after purchasing an additional 774 shares during the last quarter. Gateway Wealth Partners LLC grew its holdings in shares of AbbVie by 10.2% in the 2nd quarter. Gateway Wealth Partners LLC now owns 2,703 shares of the company’s stock worth $464,000 after purchasing an additional 250 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of AbbVie by 1.6% in the 2nd quarter. Pathway Financial Advisers LLC now owns 32,917 shares of the company’s stock worth $5,621,000 after purchasing an additional 520 shares during the last quarter. Finally, Ted Buchan & Co bought a new stake in shares of AbbVie in the 2nd quarter worth about $272,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Barclays upped their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen upped their price target on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. 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 company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $174.88 on Wednesday. The company has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. The firm’s 50 day simple moving average is $176.05 and its 200 day simple moving average is $184.94. 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 fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period last year, the company posted $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

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.