Annex Advisory Services LLC Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Annex Advisory Services LLC trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,664 shares of the company's stock after selling 4,370 shares during the quarter. Annex Advisory Services LLC's holdings in AbbVie were worth $12,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH raised its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ABBV. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.95.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $0.05 during midday trading on Thursday, hitting $187.29. The stock had a trading volume of 4,412,830 shares, compared to its average volume of 6,237,604. The company has a market capitalization of $330.82 billion, a PE ratio of 78.04, a P/E/G ratio of 1.62 and a beta of 0.56. The stock has a 50 day moving average price of $185.01 and a two-hundred day moving average price of $186.65. 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 Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its 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 business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.