Banque Pictet & Cie SA Decreases Stake in AbbVie Inc. (NYSE:ABBV)

Banque Pictet & Cie SA lowered its stake in AbbVie Inc. (NYSE:ABBV) by 28.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 74,457 shares of the company’s stock after selling 29,162 shares during the period. Banque Pictet & Cie SA’s holdings in AbbVie were worth $13,231,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Groupama Asset Managment boosted its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 transaction, the senior vice president now owns 6,983 shares in the company, 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 SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.3 %

Shares of AbbVie stock opened at $193.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 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 company has a market cap of $342.00 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company’s 50 day moving average is $178.24 and its 200 day moving average is $185.91.

AbbVie (NYSE:ABBV) last released its quarterly 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 return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the company earned $2.79 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Bank of America restated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Raymond James restated an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Five 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.