AbbVie Inc. (NYSE:ABBV) Holdings Reduced by Raub Brock Capital Management LP

Raub Brock Capital Management LP reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 97,479 shares of the company's stock after selling 5,798 shares during the period. AbbVie makes up 4.6% of Raub Brock Capital Management LP's investment portfolio, making the stock its 3rd largest holding. Raub Brock Capital Management LP's holdings in AbbVie were worth $20,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC increased its holdings in AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC grew its position in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after buying an additional 54 shares during the last quarter. Physicians Financial Services Inc. increased its stake in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after buying an additional 55 shares during the period. Finally, Connecticut Wealth Management LLC raised its holdings in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after acquiring an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ABBV. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $0.00 during midday trading on Monday, hitting $191.08. 1,656,578 shares of the stock traded hands, compared to its average volume of 6,970,882. The firm has a market capitalization of $337.53 billion, a P/E ratio of 79.56, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one 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 50-day moving average of $184.21 and a two-hundred day moving average of $187.55.

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 analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. AbbVie's revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm'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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

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.