Charles Schwab Trust Co Has $3.97 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Charles Schwab Trust Co trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 12.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 18,955 shares of the company's stock after selling 2,648 shares during the quarter. Charles Schwab Trust Co's holdings in AbbVie were worth $3,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after buying an additional 119,141 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

Shares of NYSE ABBV traded up $2.42 during trading on Friday, hitting $189.89. The company had a trading volume of 3,604,574 shares, compared to its average volume of 6,227,125. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The business's 50-day moving average is $184.56 and its 200 day moving average is $186.80. 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 company has a market cap of $335.42 billion, a P/E ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the firm earned $2.31 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several analyst reports. Morgan Stanley raised their price target 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. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $212.19.

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.