Quintet Private Bank Europe S.A. Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Quintet Private Bank Europe S.A. reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,544 shares of the company's stock after selling 1,721 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in AbbVie were worth $8,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Crestline Management LP raised its stake in shares of AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AbbVie by 1.2% during the fourth 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 raised its stake in shares of AbbVie by 35.8% during the fourth 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. grew its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group grew its holdings in shares of AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after purchasing an additional 161 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.9%

AbbVie stock traded down $1.75 during trading hours on Friday, hitting $190.67. The stock had a trading volume of 4,965,464 shares, compared to its average volume of 6,243,959. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The stock's 50-day moving average price is $183.90 and its 200-day moving average price is $187.43.

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 the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Citigroup lifted their target price on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price 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. Guggenheim lifted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI lifted their target price 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. Finally, Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday. Eight 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.