Crescent Sterling Ltd. Has $3.68 Million Position in AbbVie Inc. (NYSE:ABBV)

Crescent Sterling Ltd. reduced its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,581 shares of the company's stock after selling 2,111 shares during the period. AbbVie comprises about 3.8% of Crescent Sterling Ltd.'s investment portfolio, making the stock its 7th biggest position. Crescent Sterling Ltd.'s holdings in AbbVie were worth $3,684,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Vanguard Group Inc. raised its holdings in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Capital Research Global Investors raised its stake in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of AbbVie during the fourth quarter worth $4,459,385,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 0.4%

AbbVie stock traded up $0.71 during mid-day trading on Thursday, reaching $192.21. The company's stock had a trading volume of 3,552,286 shares, compared to its average volume of 7,015,298. The company has a market capitalization of $339.52 billion, a price-to-earnings ratio of 80.09, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The business's 50 day simple moving average is $183.78 and its 200 day simple moving average is $187.32. 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 (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating 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 business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the business earned $2.31 earnings per share. The firm's revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of several recent research reports. Citigroup boosted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America increased their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday. Finally, Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.