WESPAC Advisors LLC Lowers Stock Holdings in AbbVie Inc (NYSE:ABBV)

WESPAC Advisors LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,555 shares of the company’s stock after selling 1,826 shares during the quarter. WESPAC Advisors LLC’s holdings in AbbVie were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. BlackRock Inc. raised its stake in AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares in the last quarter. State Street Corp raised its stake in shares of AbbVie by 2.3% during the third quarter. State Street Corp now owns 68,783,527 shares of the company’s stock worth $5,208,289,000 after acquiring an additional 1,516,048 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of AbbVie by 62.2% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 3,666,083 shares of the company’s stock worth $324,595,000 after acquiring an additional 1,405,797 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd raised its stake in shares of AbbVie by 773.2% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,139,204 shares of the company’s stock worth $100,865,000 after acquiring an additional 1,008,736 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of AbbVie by 66.3% during the third quarter. Russell Investments Group Ltd. now owns 2,290,332 shares of the company’s stock worth $173,065,000 after acquiring an additional 913,015 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors and hedge funds.

AbbVie stock traded down $0.44 on Tuesday, hitting $93.61. 9,398,304 shares of the stock traded hands, compared to its average volume of 10,534,686. The firm has a market cap of $139.08 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The business’s fifty day simple moving average is $88.26 and its 200 day simple moving average is $79.66. AbbVie Inc has a 1 year low of $62.66 and a 1 year high of $97.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, February 7th. The company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.19 by $0.02. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.68 billion. AbbVie had a negative return on equity of 162.37% and a net margin of 23.69%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 earnings per share. On average, equities analysts forecast that AbbVie Inc will post 10.4 EPS for the current year.

ABBV has been the topic of several research reports. Piper Jaffray Companies lifted their price target on shares of AbbVie from $81.00 to $90.00 in a research note on Friday, November 1st. Piper Sandler lifted their price target on shares of AbbVie from to and gave the stock an “overweight” rating in a research note on Friday, February 7th. ValuEngine downgraded shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 13th. Cowen lifted their price target on shares of AbbVie from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Royal Bank of Canada reissued a “hold” rating and set a $86.00 price target on shares of AbbVie in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. AbbVie has a consensus rating of “Hold” and a consensus price target of $89.30.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Further Reading: Cash Flow

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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