Yousif Capital Management LLC Sells 3,775 Shares of AbbVie Inc. (NYSE:ABBV)

Yousif Capital Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,198 shares of the company's stock after selling 3,775 shares during the period. AbbVie makes up 0.6% of Yousif Capital Management LLC's portfolio, making the stock its 21st biggest position. Yousif Capital Management LLC's holdings in AbbVie were worth $50,955,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC raised its position in shares of AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the period. Steel Grove Capital Advisors LLC raised its stake in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its position in shares of AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. grew its stake in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC grew its stake in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ABBV shares. Bank of America lifted their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Up 0.4%

ABBV traded up $0.68 during mid-day trading on Thursday, reaching $192.18. 3,511,876 shares of the stock were exchanged, compared to its average volume of 6,224,427. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. 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 stock has a market capitalization of $339.47 billion, a PE ratio of 80.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a 50 day moving average price of $183.78 and a two-hundred day moving average price of $187.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

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.