Columbus Macro LLC Sells 16,769 Shares of AbbVie Inc. (NYSE:ABBV)

Columbus Macro LLC lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,112 shares of the company's stock after selling 16,769 shares during the period. Columbus Macro LLC's holdings in AbbVie were worth $5,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. EnRich Financial Partners LLC boosted its stake in 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 buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at $32,000. Finally, Pinney & Scofield Inc. purchased a new position in AbbVie in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.1%

Shares of NYSE ABBV traded down $0.17 during mid-day trading on Monday, hitting $190.91. 4,203,379 shares of the stock traded hands, compared to its average volume of 6,243,264. 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 $337.22 billion, a price-to-earnings ratio of 79.55, a PEG ratio of 1.62 and a beta of 0.50. The stock has a fifty day moving average price of $184.21 and a 200-day moving average price of $187.55. AbbVie Inc. has a 52 week low of $163.52 and a 52 week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business earned $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts anticipate 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 transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $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 is available at the SEC website. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ABBV. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie 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.