Founders Capital Management trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,321 shares of the company's stock after selling 6,208 shares during the period. AbbVie comprises approximately 3.4% of Founders Capital Management's portfolio, making the stock its 13th largest position. Founders Capital Management's holdings in AbbVie were worth $5,305,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter worth about $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie in the fourth quarter worth about $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Price Performance
Shares of ABBV traded up $0.67 during trading hours on Monday, reaching $186.78. 4,433,291 shares of the stock traded hands, compared to its average volume of 6,236,159. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $158.83 and a 52-week high of $218.66. The company's 50-day moving average price is $185.97 and its two-hundred day moving average price is $186.49. The company has a market cap of $329.92 billion, a P/E ratio of 77.82, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.
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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 EPS. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
Wall Street Analysts Forecast Growth
ABBV has been the subject of several research analyst reports. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Raymond James restated an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. BMO Capital Markets raised their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.
Get Our Latest Analysis on ABBV
Insider Activity at AbbVie
In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by corporate insiders.
AbbVie Profile
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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.
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