Cyndeo Wealth Partners LLC Has $27.17 Million Position in AbbVie Inc. (NYSE:ABBV)

Cyndeo Wealth Partners LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,698 shares of the company's stock after selling 7,215 shares during the quarter. AbbVie accounts for approximately 1.8% of Cyndeo Wealth Partners LLC's portfolio, making the stock its 6th largest holding. Cyndeo Wealth Partners LLC's holdings in AbbVie were worth $27,174,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hanson & Doremus Investment Management raised its stake in shares of AbbVie by 80.5% in the first quarter. Hanson & Doremus Investment Management now owns 15,981 shares of the company's stock valued at $3,348,000 after buying an additional 7,126 shares during the period. Citadel Investment Advisory Inc. raised its position in AbbVie by 0.4% in the 1st quarter. Citadel Investment Advisory Inc. now owns 18,456 shares of the company's stock worth $3,867,000 after purchasing an additional 75 shares during the period. Access Financial Services Inc. lifted its position in AbbVie by 1.4% in the first quarter. Access Financial Services Inc. now owns 7,414 shares of the company's stock valued at $1,553,000 after purchasing an additional 101 shares during the last quarter. Stewardship Advisors LLC purchased a new stake in shares of AbbVie during the first quarter worth about $224,000. Finally, Acropolis Investment Management LLC boosted its holdings in AbbVie by 2.9% in the first quarter. Acropolis Investment Management LLC now owns 3,494 shares of the company's stock valued at $732,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV stock traded down $5.45 during trading hours on Tuesday, hitting $185.41. The company's stock had a trading volume of 4,732,710 shares, compared to its average volume of 6,245,958. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. The business has a fifty day moving average of $184.53 and a 200-day moving average of $187.61. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The stock has a market cap of $327.51 billion, a price-to-earnings ratio of 78.90, a P/E/G ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 earnings per share. The company's revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated Monday, March 31st. The stock was 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 of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. Citigroup raised their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley boosted 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. Eight 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 stock. Based on data from MarketBeat, the company presently has an average 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.