Foster Victor Wealth Advisors LLC Trims Stock Position in AbbVie Inc. (NYSE:ABBV)

Foster Victor Wealth Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,717 shares of the company's stock after selling 6,342 shares during the period. Foster Victor Wealth Advisors LLC's holdings in AbbVie were worth $14,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in AbbVie in the 4th quarter worth $309,000. Capital & Planning LLC boosted its holdings in AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after buying an additional 105 shares during the period. LaFleur & Godfrey LLC boosted its holdings in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after buying an additional 3,108 shares during the period. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after buying an additional 3,401 shares during the period. Finally, Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after buying an additional 3,064 shares during the period. Institutional investors own 70.23% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight research 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $211.29.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were 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 legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

AbbVie Trading Down 0.9%

NYSE ABBV traded down $1.75 during trading on Friday, hitting $190.67. The stock had a trading volume of 4,965,464 shares, compared to its average volume of 6,251,458. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market capitalization of $336.80 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The stock has a 50 day simple moving average of $184.21 and a 200 day simple moving average of $187.52.

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. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.31 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.