AbbVie Inc. (NYSE:ABBV) Stock Position Lowered by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,695 shares of the company's stock after selling 4,965 shares during the period. AbbVie accounts for approximately 2.0% of Alpha Omega Wealth Management LLC's investment portfolio, making the stock its 6th biggest holding. Alpha Omega Wealth Management LLC's holdings in AbbVie were worth $10,412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Crestline Management LP grew its stake in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares during the period. AXA S.A. lifted its stake in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after buying an additional 125,568 shares during the period. Finally, Keystone Financial Group grew its holdings in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

NYSE ABBV traded up $0.77 on Thursday, hitting $192.27. The company had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company's fifty day moving average price is $183.90 and its 200-day moving average price is $187.43. The company has a market capitalization of $339.63 billion, a PE ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.31 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ABBV. Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Citigroup lifted their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Company Profile

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.