AbbVie Inc. (NYSE:ABBV) Holdings Trimmed by Farmers Trust Co.

Farmers Trust Co. decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,718 shares of the company's stock after selling 1,603 shares during the quarter. Farmers Trust Co.'s holdings in AbbVie were worth $5,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ABBV. Sage Capital Advisors llc increased its stake in shares of AbbVie by 0.9% during the 1st quarter. Sage Capital Advisors llc now owns 22,813 shares of the company's stock valued at $4,780,000 after acquiring an additional 197 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of AbbVie by 2.6% during the 1st quarter. Moody National Bank Trust Division now owns 23,103 shares of the company's stock valued at $4,841,000 after acquiring an additional 586 shares during the last quarter. Agate Pass Investment Management LLC increased its stake in shares of AbbVie by 4.8% during the 1st quarter. Agate Pass Investment Management LLC now owns 68,086 shares of the company's stock valued at $14,265,000 after acquiring an additional 3,130 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of AbbVie by 88.3% during the 1st quarter. Versant Capital Management Inc now owns 5,151 shares of the company's stock valued at $1,079,000 after acquiring an additional 2,416 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA increased its stake in shares of AbbVie by 5.3% during the 1st quarter. Lederer & Associates Investment Counsel CA now owns 10,870 shares of the company's stock valued at $2,277,000 after acquiring an additional 549 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Evercore ISI boosted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has an average rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Stock Down 0.0%

Shares of AbbVie stock traded down $0.09 on Friday, hitting $185.53. 11,606,785 shares of the company's stock traded hands, compared to its average volume of 6,243,426. The firm's 50-day moving average is $185.97 and its 200 day moving average is $186.26. AbbVie Inc. has a 52-week low of $158.83 and a 52-week high of $218.66. The stock has a market cap of $327.72 billion, a P/E ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction 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 directly owns 53,234 shares of the company's stock, 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 the SEC website. 0.08% of the stock is owned by corporate insiders.

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.