Janney Montgomery Scott LLC Has $194.38 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Janney Montgomery Scott LLC lessened its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 927,724 shares of the company's stock after selling 28,832 shares during the quarter. Janney Montgomery Scott LLC owned 0.05% of AbbVie worth $194,377,000 at the end of the most recent reporting period.

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

AbbVie Trading Down 0.1%

Shares of ABBV traded down $0.17 during trading hours on Monday, hitting $190.91. 4,203,379 shares of the stock traded hands, compared to its average volume of 6,243,264. The business has a fifty day moving average of $184.21 and a 200-day moving average of $187.55. The firm has a market capitalization of $337.22 billion, a PE ratio of 79.55, 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 company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

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

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on ABBV shares. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.29.

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.