First National Bank of Mount Dora Trust Investment Services Reduces Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First National Bank of Mount Dora Trust Investment Services trimmed its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,562 shares of the company's stock after selling 9,387 shares during the quarter. AbbVie accounts for approximately 2.4% of First National Bank of Mount Dora Trust Investment Services' portfolio, making the stock its 12th largest holding. First National Bank of Mount Dora Trust Investment Services' holdings in AbbVie were worth $9,965,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Crestline Management LP increased its holdings in AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after buying an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP increased its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the last quarter. AXA S.A. raised its holdings in shares of AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Keystone Financial Group lifted its stake in AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Bank of America boosted their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday. Finally, Morgan Stanley raised their price objective 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 investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Trading Up 0.1%

AbbVie stock traded up $0.15 during mid-day trading on Tuesday, hitting $189.31. The company's stock had a trading volume of 4,086,840 shares, compared to its average volume of 6,226,249. The business has a 50 day moving average price of $183.92 and a 200-day moving average price of $187.28. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock has a market cap of $334.40 billion, a price-to-earnings ratio of 78.88, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

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 analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

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.