Stock Yards Bank & Trust Co. Sells 2,429 Shares of AbbVie Inc. (NYSE:ABBV)

Stock Yards Bank & Trust Co. decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,243 shares of the company's stock after selling 2,429 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in AbbVie were worth $13,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ABBV. Crestline Management LP boosted its holdings in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP boosted its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after acquiring an additional 108,993 shares during the period. Quantbot Technologies LP boosted its holdings in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after acquiring an additional 276 shares during the period. AXA S.A. boosted its holdings in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Keystone Financial Group boosted its holdings in AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after acquiring an additional 161 shares during the period. Institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Finally, Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business'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 value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

ABBV stock traded down $1.75 during trading on Friday, reaching $190.67. 4,965,464 shares of the stock were exchanged, compared to its average volume of 6,243,963. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The company 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. The stock has a 50 day simple moving average of $184.21 and a 200-day simple moving average of $187.49. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. 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 previous year, the company posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.