CRA Financial Services LLC Sells 1,686 Shares of AbbVie Inc. (NYSE:ABBV)

CRA Financial Services LLC decreased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 15.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,304 shares of the company's stock after selling 1,686 shares during the quarter. CRA Financial Services LLC's holdings in AbbVie were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in ABBV. EnRich Financial Partners LLC increased 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 purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 2.9%

NYSE ABBV traded down $5.45 during trading hours on Tuesday, reaching $185.41. 4,701,698 shares of the company's stock were exchanged, compared to its average volume of 6,237,307. The company's 50-day moving average is $184.53 and its two-hundred day moving average is $187.61. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a market capitalization of $327.51 billion, a price-to-earnings ratio of 77.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on ABBV. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday, June 9th. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, BNP Paribas raised AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

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.