Busey Bank Lowers Stake in AbbVie Inc. (NYSE:ABBV)

Busey Bank lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 81,792 shares of the company’s stock after selling 708 shares during the period. Busey Bank’s holdings in AbbVie were worth $14,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Affirmative Financial Network raised its stake in shares of AbbVie by 8.3% during the 4th quarter. First Affirmative Financial Network now owns 5,166 shares of the company’s stock worth $918,000 after acquiring an additional 395 shares in the last quarter. Abel Hall LLC increased its position in shares of AbbVie by 7.0% during the fourth quarter. Abel Hall LLC now owns 2,605 shares of the company’s stock worth $463,000 after purchasing an additional 171 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $1,576,000. Strategic Planning Group LLC boosted its position in shares of AbbVie by 4.6% in the 4th quarter. Strategic Planning Group LLC now owns 35,322 shares of the company’s stock worth $6,277,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Gries Financial LLC grew its stake in AbbVie by 0.4% during the 4th quarter. Gries Financial LLC now owns 16,040 shares of the company’s stock worth $2,850,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $175.21 on Thursday. The stock has a market capitalization of $309.62 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58. The stock has a 50-day moving average of $176.22 and a 200 day moving average of $184.97. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last announced 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. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.95 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research analyst reports. Truist Financial decreased their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. BMO Capital Markets cut their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.