Principal Street Partners LLC Has $6.58 Million Stake in AbbVie Inc. (NYSE:ABBV)

Principal Street Partners LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,013 shares of the company's stock after selling 4,479 shares during the period. AbbVie accounts for approximately 1.3% of Principal Street Partners LLC's holdings, making the stock its 22nd biggest holding. Principal Street Partners LLC's holdings in AbbVie were worth $6,577,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ABBV shares. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, UBS Group increased their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Stock Performance

NYSE ABBV traded up $0.52 during trading on Thursday, reaching $182.32. The company's stock had a trading volume of 4,684,698 shares, compared to its average volume of 6,250,652. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm has a 50 day moving average price of $189.64 and a 200 day moving average price of $186.68. The firm has a market capitalization of $322.05 billion, a price-to-earnings ratio of 75.97, 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 (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates 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 company's revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,693 shares of company stock valued at $22,282,985 over the last quarter. 0.25% of the stock is owned by company insiders.

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.