Coe Capital Management LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,137 shares of the company’s stock after selling 3,210 shares during the period. AbbVie comprises about 2.7% of Coe Capital Management LLC’s holdings, making the stock its 7th biggest position. Coe Capital Management LLC’s holdings in AbbVie were worth $2,528,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Truewealth LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $126,000. Delpha Capital Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $131,000. Virtue Capital Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $139,000. Trustcore Financial Services LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $148,000. Finally, Acropolis Investment Management LLC increased its stake in shares of AbbVie by 68.3% in the fourth quarter. Acropolis Investment Management LLC now owns 1,855 shares of the company’s stock worth $179,000 after purchasing an additional 753 shares in the last quarter. Institutional investors and hedge funds own 70.30% of the company’s stock.

In other AbbVie news, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 8,280 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $117.88, for a total transaction of $976,046.40. Following the sale, the chairman now owns 321,292 shares of the company’s stock, valued at $37,873,900.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 211,197 shares of company stock valued at $24,585,575. 0.07% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “sell” rating and issued a $81.00 target price on shares of AbbVie in a research note on Tuesday, May 1st. Credit Suisse Group set a $109.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Tuesday, April 10th. Jefferies Group set a $122.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research note on Friday, April 13th. Evercore ISI reaffirmed a “buy” rating and set a $144.00 price objective on shares of AbbVie in a research note on Monday, January 29th. Finally, Barclays reduced their price objective on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $116.38.

Shares of AbbVie opened at $105.32 on Friday, MarketBeat.com reports. AbbVie Inc. has a 1 year low of $104.20 and a 1 year high of $104.97. The company has a market cap of $166.69 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 0.99 and a beta of 1.59. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The business had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same period in the previous year, the business posted $1.28 earnings per share. AbbVie’s revenue for the quarter was up 21.4% on a year-over-year basis. equities research analysts predict that AbbVie Inc. will post 7.8 earnings per share for the current fiscal year.

AbbVie announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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