Sanibel Captiva Trust Company Inc. Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Sanibel Captiva Trust Company Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 264,608 shares of the company's stock after purchasing an additional 8,527 shares during the period. AbbVie accounts for about 1.8% of Sanibel Captiva Trust Company Inc.'s holdings, making the stock its 13th largest holding. Sanibel Captiva Trust Company Inc.'s holdings in AbbVie were worth $55,441,000 at the end of the most recent quarter.

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

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

AbbVie Stock Up 0.4%

AbbVie stock traded up $0.77 during midday trading on Thursday, hitting $192.27. 5,773,483 shares of the company's stock were exchanged, compared to its average volume of 6,232,805. The company has a market cap of $339.63 billion, a PE 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. 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 $183.78 and a two-hundred day moving average of $187.32.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the company posted $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Bank of America lifted their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday. Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Finally, Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday. Eight 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 company's stock. According to MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and a consensus target price 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.