Neville Rodie & Shaw Inc. Cuts Stock Position in AbbVie Inc. (NYSE:ABBV)

Neville Rodie & Shaw Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,515 shares of the company's stock after selling 5,115 shares during the quarter. AbbVie comprises approximately 1.5% of Neville Rodie & Shaw Inc.'s holdings, making the stock its 18th largest position. Neville Rodie & Shaw Inc.'s holdings in AbbVie were worth $19,174,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter valued at approximately $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in AbbVie during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie during the 4th quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the 4th quarter valued at approximately $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

AbbVie Stock Down 0.0%

Shares of AbbVie stock traded down $0.09 during trading on Friday, hitting $185.53. 11,606,785 shares of the stock traded hands, compared to its average volume of 6,281,110. The firm has a market cap of $327.72 billion, a P/E ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 52-week low of $156.20 and a 52-week high of $218.66. The stock's fifty day simple moving average is $185.97 and its 200 day simple moving average is $186.26.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABBV. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

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.