Birch Hill Investment Advisors LLC Has $4.95 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Birch Hill Investment Advisors LLC cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,836 shares of the company’s stock after selling 78 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in AbbVie were worth $4,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GGM Financials LLC increased its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the period. Dillon & Associates Inc. increased its holdings in shares of AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after purchasing an additional 52 shares during the period. Sunflower Bank N.A. lifted its holdings in shares of AbbVie by 0.4% during the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after purchasing an additional 53 shares during the period. Professional Financial Advisors LLC grew its position in AbbVie by 3.4% in the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. Finally, WFA Asset Management Corp increased its stake in AbbVie by 0.8% in the 3rd quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock valued at $1,383,000 after buying an additional 55 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE:ABBV opened at $190.67 on Friday. The firm’s fifty day simple moving average is $177.54 and its 200 day simple moving average is $185.60. 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. The firm has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the business posted $2.79 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 at the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ABBV. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Five equities research 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

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.