AbbVie Inc. (NYSE:ABBV) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. cut its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,106 shares of the company's stock after selling 2,266 shares during the period. AbbVie makes up approximately 2.0% of New England Research & Management Inc.'s investment portfolio, making the stock its 11th largest holding. New England Research & Management Inc.'s holdings in AbbVie were worth $4,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC lifted its stake 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 valued at $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its position in 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 acquiring an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its position in 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 acquiring an additional 54 shares during the last quarter. Physicians Financial Services Inc. increased its holdings 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 period. Finally, Connecticut Wealth Management LLC grew its stake in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

Shares of AbbVie stock traded down $0.29 during trading on Monday, hitting $190.79. 1,558,671 shares of the company's stock were exchanged, compared to its average volume of 6,232,936. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business has a 50-day simple moving average of $184.21 and a 200-day simple moving average of $187.55. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock has a market capitalization of $337.01 billion, a price-to-earnings ratio of 79.51, a PEG ratio of 1.62 and a beta of 0.50.

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

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Bank of America upped their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday, June 9th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Finally, BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight equities 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 company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.