Consilium Wealth Advisory LLC Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Consilium Wealth Advisory LLC decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,112 shares of the company's stock after selling 3,163 shares during the period. Consilium Wealth Advisory LLC's holdings in AbbVie were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vista Investment Partners LLC increased its position in shares of AbbVie by 0.6% during the 1st quarter. Vista Investment Partners LLC now owns 28,942 shares of the company's stock worth $6,064,000 after purchasing an additional 175 shares during the last quarter. Vicus Capital raised its stake in shares of AbbVie by 10.9% in the 1st quarter. Vicus Capital now owns 3,130 shares of the company's stock valued at $656,000 after acquiring an additional 307 shares during the period. Blackston Financial Advisory Group LLC lifted its holdings in shares of AbbVie by 1.9% in the 1st quarter. Blackston Financial Advisory Group LLC now owns 4,919 shares of the company's stock worth $1,030,000 after acquiring an additional 91 shares during the last quarter. Fortitude Advisory Group L.L.C. lifted its holdings in shares of AbbVie by 2.1% in the 1st quarter. Fortitude Advisory Group L.L.C. now owns 5,215 shares of the company's stock worth $1,093,000 after acquiring an additional 109 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings in AbbVie by 14.4% in the 1st quarter. Grove Bank & Trust now owns 15,037 shares of the company's stock valued at $3,151,000 after purchasing an additional 1,896 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 0.1%

ABBV stock traded down $0.22 during midday trading on Wednesday, reaching $185.26. 3,572,665 shares of the company were exchanged, compared to its average volume of 6,243,187. The company has a market cap of $327.24 billion, a price-to-earnings ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The stock's 50-day simple moving average is $184.64 and its 200 day simple moving average is $187.59.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business earned $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

ABBV has been the topic of a number of research reports. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Bank of America lifted their target price on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate 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.