CENTRAL TRUST Co Sells 2,634 Shares of AbbVie Inc. (NYSE:ABBV)

CENTRAL TRUST Co cut its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,796 shares of the company's stock after selling 2,634 shares during the period. AbbVie makes up 1.2% of CENTRAL TRUST Co's holdings, making the stock its 18th largest position. CENTRAL TRUST Co's holdings in AbbVie were worth $48,147,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% during 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 during the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH lifted its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Bank of America increased their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV stock traded down $0.22 during trading on Thursday, reaching $185.26. 3,572,665 shares of the company's stock traded hands, compared to its average volume of 6,243,189. The company has a market capitalization of $327.24 billion, a P/E ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The firm's 50-day moving average is $184.75 and its 200 day moving average is $187.58. 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 quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 7.31% and a return on equity of 412.03%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.