AbbVie Inc. (NYSE:ABBV) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. lowered its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,088 shares of the company's stock after selling 2,985 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in AbbVie were worth $2,148,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Blue Bell Private Wealth Management LLC raised its stake in shares of AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after acquiring an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC raised 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 acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC raised 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 acquiring an additional 54 shares in the last quarter. Physicians Financial Services Inc. increased its stake in AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC increased its stake in AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV traded up $2.31 during midday trading on Thursday, hitting $185.40. 4,925,815 shares of the company traded hands, compared to its average volume of 6,251,910. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $327.49 billion, a price-to-earnings ratio of 77.25, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The business has a 50 day simple moving average of $186.76 and a two-hundred day simple moving average of $186.09.

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

Analysts Set New Price Targets

ABBV has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Citigroup restated a "neutral" rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Transactions at AbbVie

In other 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.08% of the company's stock.

AbbVie 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.