KMG Fiduciary Partners LLC Sells 10,403 Shares of AbbVie Inc. (NYSE:ABBV)

KMG Fiduciary Partners LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,874 shares of the company's stock after selling 10,403 shares during the quarter. AbbVie accounts for 1.3% of KMG Fiduciary Partners LLC's holdings, making the stock its 13th biggest position. KMG Fiduciary Partners LLC's holdings in AbbVie were worth $15,268,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction 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 owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Bank of America increased 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. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and a consensus price target of $212.19.

AbbVie Trading Up 1.3%

NYSE ABBV opened at $189.89 on Friday. The company has a market cap of $335.42 billion, a PE ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. 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 12 month low of $163.52 and a 12 month high of $218.66. The stock has a 50 day moving average of $184.24 and a 200-day moving average of $187.09.

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 the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during 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 firm's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

About AbbVie

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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