RMR Wealth Builders Sells 1,605 Shares of AbbVie Inc. (NYSE:ABBV)

RMR Wealth Builders reduced its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 16.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,304 shares of the company's stock after selling 1,605 shares during the period. RMR Wealth Builders' holdings in AbbVie were worth $1,740,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Crestline Management LP grew 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 worth $6,275,000 after acquiring an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares during the last quarter. AXA S.A. boosted its position in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group boosted its position in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after buying an additional 161 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ABBV. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Evercore ISI increased 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. Bank of America increased their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday. Finally, Wells Fargo & Company increased 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. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.29.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred 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 sale, the executive vice president now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Performance

Shares of NYSE ABBV traded down $1.75 during trading on Friday, hitting $190.67. The company had a trading volume of 4,965,464 shares, compared to its average volume of 6,243,959. The stock has a 50 day simple moving average of $183.90 and a 200 day simple moving average of $187.43. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The firm 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 (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 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 firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company earned $2.31 earnings per share. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current 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.