Hennion & Walsh Asset Management Inc. Trims Position in AbbVie Inc. (NYSE:ABBV)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,268 shares of the company's stock after selling 4,538 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in AbbVie were worth $5,923,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. EnRich Financial Partners LLC boosted its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at $32,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.0%

Shares of NYSE:ABBV traded down $0.05 during trading hours on Thursday, reaching $187.29. The stock had a trading volume of 4,412,830 shares, compared to its average volume of 6,233,073. AbbVie Inc. has a 1 year low of $162.16 and a 1 year high of $218.66. The firm's 50 day moving average is $185.01 and its 200-day moving average is $186.65. The stock has a market capitalization of $330.82 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 1.62 and a beta of 0.56. 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 released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.31 EPS. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup restated a "neutral" rating and set a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.