AbbVie Inc. (NYSE:ABBV) Shares Acquired by American Trust

American Trust boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 185.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,111 shares of the company's stock after purchasing an additional 12,420 shares during the period. American Trust's holdings in AbbVie were worth $3,396,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABBV. Tallon Kerry Patrick purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $309,000. Capital & Planning LLC increased its position in AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after buying an additional 105 shares during the period. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares during the period. FCG Investment Co increased its stake in AbbVie by 4.8% during the fourth quarter. FCG Investment Co now owns 12,208 shares of the company's stock valued at $2,169,000 after acquiring an additional 557 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC increased its position in shares of AbbVie by 4.8% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 5,172 shares of the company's stock valued at $919,000 after purchasing an additional 236 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

NYSE ABBV traded down $0.78 during trading on Friday, reaching $184.85. The company's stock had a trading volume of 2,369,721 shares, compared to its average volume of 6,236,971. The firm has a market cap of $326.51 billion, a price-to-earnings ratio of 77.03, 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 business's fifty day moving average price is $186.28 and its 200-day moving average price is $186.16. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

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, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. 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 company posted $2.31 EPS. The business's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup reaffirmed a "neutral" rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on 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 approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% 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.