Sentry Investment Management LLC Sells 1,687 Shares of AbbVie Inc. (NYSE:ABBV)

Sentry Investment Management LLC cut its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 23.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,646 shares of the company's stock after selling 1,687 shares during the quarter. AbbVie comprises 0.7% of Sentry Investment Management LLC's investment portfolio, making the stock its 22nd largest holding. Sentry Investment Management LLC's holdings in AbbVie were worth $1,183,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABBV. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth $31,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the fourth quarter worth $32,000. Finally, Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares during the period. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 0.0%

AbbVie stock traded up $0.05 during mid-day trading on Wednesday, hitting $187.30. The stock had a trading volume of 4,379,502 shares, compared to its average volume of 6,232,265. The stock has a 50-day simple moving average of $185.37 and a two-hundred day simple moving average of $186.65. The stock has a market capitalization of $330.85 billion, a PE ratio of 78.04, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $159.77 and a 12 month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly 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 analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm's quarterly revenue 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, sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity 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 stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company raised their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Citigroup reaffirmed a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie 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.