NBT Bank N A NY Lowers Stock Position in AbbVie Inc. (NYSE:ABBV)

NBT Bank N A NY cut its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,232 shares of the company's stock after selling 1,418 shares during the period. NBT Bank N A NY's holdings in AbbVie were worth $11,153,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ABBV. Crestline Management LP boosted its holdings in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. boosted its stake in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group boosted its stake in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after acquiring an additional 161 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.1%

Shares of ABBV traded down $0.22 during midday trading on Wednesday, reaching $185.26. The company had a trading volume of 3,572,665 shares, compared to its average volume of 6,243,187. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The stock has a market cap of $327.24 billion, a PE ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The firm has a 50 day simple moving average of $184.64 and a 200-day simple moving average of $187.59. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the company earned $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Guggenheim increased their target price 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. Bank of America increased their target price on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Citigroup lifted their price objective on AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated 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 directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.