Raub Brock Capital Management LP Sells 5,798 Shares of AbbVie Inc. (NYSE:ABBV)

Raub Brock Capital Management LP lowered its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,479 shares of the company's stock after selling 5,798 shares during the period. AbbVie makes up approximately 4.6% of Raub Brock Capital Management LP's portfolio, making the stock its 3rd biggest holding. Raub Brock Capital Management LP's holdings in AbbVie were worth $20,424,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Crestline Management LP boosted its stake in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after buying an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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 purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its position in 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 purchasing an additional 276 shares in the last quarter. AXA S.A. boosted its position in AbbVie by 14.8% during 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 in the last quarter. Finally, Keystone Financial Group boosted its position in AbbVie by 0.9% during 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 in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Bank of America upped their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eight investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

Shares of AbbVie stock traded down $1.75 on Friday, reaching $190.67. 4,965,464 shares of the company were exchanged, compared to its average volume of 6,251,458. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. 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 firm has a market cap of $336.80 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. The company's 50-day moving average is $184.21 and its two-hundred day moving average is $187.52.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.