AbbVie Inc. (NYSE:ABBV) Position Cut by Monarch Capital Management Inc.

Monarch Capital Management Inc. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,343 shares of the company's stock after selling 1,616 shares during the quarter. AbbVie accounts for 3.0% of Monarch Capital Management Inc.'s portfolio, making the stock its 8th biggest holding. Monarch Capital Management Inc.'s holdings in AbbVie were worth $10,757,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ABBV. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares during the period. Steel Grove Capital Advisors LLC lifted its stake in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its stake in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. lifted its stake in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America upped their price objective on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Eight equities research 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 stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Trading Up 0.4%

AbbVie stock traded up $0.77 during trading on Thursday, reaching $192.27. 5,775,647 shares of the company were exchanged, compared to its average volume of 6,238,863. The stock's 50 day simple moving average is $183.90 and its two-hundred day simple moving average is $187.43. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. 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 company has a market capitalization of $339.63 billion, a P/E ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 EPS. AbbVie's revenue was up 8.4% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share 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.