Fortitude Family Office LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,647 shares of the company's stock after selling 2,703 shares during the period. Fortitude Family Office LLC's holdings in AbbVie were worth $1,602,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of ABBV. Tallon Kerry Patrick bought a new position in AbbVie during the fourth quarter valued at approximately $309,000. Capital & Planning LLC boosted its stake in shares of AbbVie by 1.7% during 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 during the period. LaFleur & Godfrey LLC boosted its stake in shares of AbbVie by 4.1% during 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 during the period. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% during 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 during the period. Finally, Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% during 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 during the period. 70.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have recently weighed in on ABBV shares. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.29.
Check Out Our Latest Stock Analysis on AbbVie
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 stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company's stock.
AbbVie Stock Performance
NYSE:ABBV traded up $0.77 during mid-day trading on Thursday, reaching $192.27. The company's stock had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The firm's fifty day moving average price is $183.78 and its two-hundred day moving average price is $187.32. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $339.63 billion, a P/E ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. 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 firm earned $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
About AbbVie
(
Free Report)
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.
See Also
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
