First National Corp MA ADV Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First National Corp MA ADV trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 29.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,897 shares of the company's stock after selling 2,055 shares during the quarter. First National Corp MA ADV's holdings in AbbVie were worth $1,026,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC boosted its stake in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. boosted its stake in AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after buying an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC boosted its stake in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after buying an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction 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 represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.25% of the company's stock.

AbbVie Trading Up 1.3%

ABBV traded up $2.42 on Friday, hitting $189.89. The company had a trading volume of 3,604,574 shares, compared to its average volume of 6,241,127. The company has a market cap of $335.42 billion, a PE ratio of 79.12, 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. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business's fifty day simple moving average is $184.24 and its 200 day simple moving average is $187.09.

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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ABBV shares. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.19.

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.