AbbVie Inc. (NYSE:ABBV) Stock Holdings Lowered by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 13.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,463 shares of the company's stock after selling 2,335 shares during the period. Ipswich Investment Management Co. Inc.'s holdings in AbbVie were worth $3,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $4,459,385,000. GAMMA Investing LLC lifted its holdings in shares of AbbVie by 25,841.6% during the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC boosted its position in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

Shares of ABBV stock traded down $1.75 during midday trading on Friday, reaching $190.67. 4,965,464 shares of the company traded hands, compared to its average volume of 6,243,963. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $336.80 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The firm's 50 day simple moving average is $184.21 and its two-hundred day simple moving average is $187.49.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ABBV shares. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research note on Wednesday. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

Insider Buying and Selling

In related 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company's stock.

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.