Fort Washington Investment Advisors Inc. OH Sells 42,337 Shares of AbbVie Inc. (NYSE:ABBV)

Fort Washington Investment Advisors Inc. OH trimmed its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 15.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,891 shares of the company's stock after selling 42,337 shares during the period. Fort Washington Investment Advisors Inc. OH's holdings in AbbVie were worth $47,538,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in shares of AbbVie during the 4th quarter valued at $309,000. Capital & Planning LLC lifted its holdings in shares of AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after purchasing an additional 105 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares in the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of NYSE:ABBV traded up $0.77 during midday trading on Thursday, hitting $192.27. The company's stock had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. The stock has a market capitalization of $339.63 billion, a price-to-earnings ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50. The stock's 50 day simple moving average is $183.78 and its 200 day simple moving average is $187.32. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. 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 issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The firm's revenue was up 8.4% compared to the same quarter last year. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

About AbbVie

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.