Rowlandmiller & PARTNERS.ADV Sells 1,695 Shares of AbbVie Inc. (NYSE:ABBV)

Rowlandmiller & PARTNERS.ADV lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,564 shares of the company's stock after selling 1,695 shares during the period. AbbVie accounts for 2.0% of Rowlandmiller & PARTNERS.ADV's portfolio, making the stock its 15th largest holding. Rowlandmiller & PARTNERS.ADV's holdings in AbbVie were worth $9,547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $36,000. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.77 on Thursday, reaching $192.27. The stock had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. 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 firm's 50-day moving average is $183.90 and its two-hundred day moving average is $187.43. The firm has a market capitalization of $339.63 billion, a price-to-earnings ratio of 80.11, a P/E/G 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.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for 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 was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Finally, Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

Insiders Place Their Bets

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 completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company's stock.

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.