AbbVie Inc. (NYSE:ABBV) Shares Sold by Bfsg LLC

Bfsg LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,652 shares of the company's stock after selling 1,414 shares during the quarter. Bfsg LLC's holdings in AbbVie were worth $4,746,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 0.1%

Shares of AbbVie stock opened at $190.91 on Tuesday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The company has a market capitalization of $337.22 billion, a P/E ratio of 79.55, a PEG ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company's fifty day moving average is $184.53 and its two-hundred day moving average is $187.61.

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

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were 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 owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.

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