Alliance Wealth Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE: ABBV – Get Rating) by 5.4% during the 1st quarter, Holdings Channel reports. The firm owned 6,751 shares of the company stock after selling 388 shares during the period. AbbVie makes up about 0.9% of Alliance Wealth Advisors LLC’s holdings, making the stock its 29th biggest position. Alliance Wealth Advisors LLC’s holdings in AbbVie were worth $ 1,094,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of ABBV. Marino Stram & Associates LLC raised its holdings in AbbVie by 3.5% in the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company stock valued at $ 1,722,000 after acquiring an additional 431 shares in the last quarter. Oldfather Financial Services LLC acquired a new stake in AbbVie in the fourth quarter valued at approximately $ 250,000. International Assets Investment Management LLC raised its holdings in AbbVie by 237.7% in the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company stock valued at $ 1,696,000 after acquiring an additional 130,327 shares in the last quarter. RB Capital Management LLC raised its holdings in AbbVie by 3.1% in the first quarter. RB Capital Management LLC now owns 9,115 shares of the company stock valued at $ 1,478,000 after acquiring an additional 273 shares in the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new stake in AbbVie during the fourth quarter worth approximately $ 223,000. 67.03% of the stock is currently owned by institutional investors and hedge funds.
In other news, Vice Chairman Michael Severino sold 79,801 shares of AbbVie stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $ 150.90, for a total transaction of $ 12,041,970.90. Following the completion of the transaction, the insider now owns 152,103 shares of the company stock, valued at approximately $ 22,952,342.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction on Monday, May 16th. The stock was sold at an average price of $ 155.00, for a total value of $ 13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares of the company stock, valued at approximately $ 2,576,565. The disclosure for this sale can be found here. Insiders have sold a total of 463,761 shares of company stock valued at $ 70,609,771 in the last ninety days. Corporate insiders own 0.08% of the company stock.
A number of analysts have weighed in on ABBV shares. The Goldman Sachs Group raised their price target on shares of AbbVie from $ 122.00 to $ 140.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Barclays raised their price objective on shares of AbbVie from $ 150.00 to $ 174.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Wells Fargo & Company raised their price objective on shares of AbbVie from $ 165.00 to $ 200.00 in a report on Monday, May 2nd. Morgan Stanley raised their price objective on shares of AbbVie from $ 142.00 to $ 192.00 and gave the stock an “overweight” rating in a report on Wednesday, April 6th. Finally, SVB Leerink started coverage on shares of AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $ 140.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $ 159.75.
AbbVie stock opened at $ 147.56 on Thursday. AbbVie Inc. has a one year low of $ 105.56 and a one year high of $ 175.91. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. The business has a fifty day moving average of $ 150.17 and a two-hundred day moving average of $ 146.18. The company has a market cap of $ 260.75 billion, a P / E ratio of 21.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.83.
AbbVie (NYSE: ABBV – Get Rating) last released its earnings results on Friday, April 29th. The company reported $ 3.16 EPS for the quarter, beating analysts’ consensus estimates of $ 3.15 by $ 0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The company had revenue of $ 13.36 billion during the quarter, compared to the estimate consensus of $ 13.61 billion. During the same quarter last year, the company earned $ 2.95 earnings per share. AbbVie’s quarterly revenue was up 2.7% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 14.02 EPS for the current year.
AbbVie Company Profile: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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