Patrick Mauro Investment Advisor INC. Has $4.87 Million Stake in AbbVie Inc. (NYSE:ABBV)

Patrick Mauro Investment Advisor INC. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,398 shares of the company's stock after selling 1,766 shares during the period. AbbVie makes up 2.8% of Patrick Mauro Investment Advisor INC.'s holdings, making the stock its 17th largest position. Patrick Mauro Investment Advisor INC.'s holdings in AbbVie were worth $4,869,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter valued at $29,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the 4th quarter worth $32,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 0.5%

NYSE:ABBV traded up $0.97 during trading hours on Friday, hitting $183.51. 4,026,933 shares of the company's stock traded hands, compared to its average volume of 6,244,068. The firm has a market cap of $324.15 billion, a P/E ratio of 76.46, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a twelve month low of $153.58 and a twelve month 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's fifty day moving average price is $188.39 and its two-hundred day moving average price is $186.43.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business'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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,693 shares of company stock valued at $22,282,985. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.