ST Germain D J Co. Inc. Sells 1,404 Shares of AbbVie Inc. (NYSE:ABBV)

ST Germain D J Co. Inc. decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,704 shares of the company's stock after selling 1,404 shares during the period. ST Germain D J Co. Inc.'s holdings in AbbVie were worth $13,976,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of AbbVie in the fourth quarter worth $4,459,385,000. GAMMA Investing LLC increased its position in shares of AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Raymond James Financial Inc. bought a new position in shares of AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC increased its position in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the period. Institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ABBV. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Citigroup restated a "neutral" rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. 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. Based on data from MarketBeat, AbbVie has an average rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Trading Up 0.0%

Shares of NYSE ABBV traded up $0.05 during trading on Wednesday, reaching $187.30. The company had a trading volume of 4,379,502 shares, compared to its average volume of 6,232,265. The stock has a market cap of $330.85 billion, a P/E ratio of 78.04, a PEG ratio of 1.62 and a beta of 0.56. The company's fifty day moving average price is $185.37 and its 200-day moving average price is $186.65. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $159.77 and a 12 month high of $218.66.

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

Insider Activity 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 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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.