Mason & Associates Inc Sells 1,531 Shares of AbbVie Inc. (NYSE:ABBV)

Mason & Associates Inc trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,975 shares of the company's stock after selling 1,531 shares during the quarter. Mason & Associates Inc's holdings in AbbVie were worth $623,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Sagespring Wealth Partners LLC raised its stake in shares of AbbVie by 21.1% in the first quarter. Sagespring Wealth Partners LLC now owns 23,754 shares of the company's stock valued at $4,977,000 after acquiring an additional 4,138 shares during the last quarter. Precedent Wealth Partners LLC raised its position in AbbVie by 13.3% in the 1st quarter. Precedent Wealth Partners LLC now owns 10,444 shares of the company's stock valued at $2,188,000 after purchasing an additional 1,222 shares during the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in AbbVie by 143.5% in the first quarter. Murphy Pohlad Asset Management LLC now owns 3,849 shares of the company's stock worth $806,000 after purchasing an additional 2,268 shares in the last quarter. Adero Partners LLC grew its holdings in shares of AbbVie by 14.9% during the first quarter. Adero Partners LLC now owns 3,182 shares of the company's stock worth $667,000 after purchasing an additional 413 shares during the last quarter. Finally, Sowell Financial Services LLC increased its stake in shares of AbbVie by 8.5% in the first quarter. Sowell Financial Services LLC now owns 63,551 shares of the company's stock valued at $13,315,000 after buying an additional 4,979 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of a number of research analyst reports. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Citigroup increased their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

ABBV traded down $0.17 on Monday, hitting $190.91. 4,203,379 shares of the stock were exchanged, compared to its average volume of 6,243,265. The firm has a market capitalization of $337.22 billion, a price-to-earnings ratio of 79.55, a PEG ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The business has a 50-day moving average of $184.21 and a two-hundred day moving average of $187.55.

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, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.