Strategic Advisors LLC Has $10.55 Million Stake in AbbVie Inc. (NYSE:ABBV)

Strategic Advisors LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,333 shares of the company's stock after selling 1,397 shares during the period. AbbVie comprises 2.0% of Strategic Advisors LLC's portfolio, making the stock its 10th largest holding. Strategic Advisors LLC's holdings in AbbVie were worth $10,546,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. Vista Investment Partners LLC grew its position in shares of AbbVie by 0.6% during the 1st quarter. Vista Investment Partners LLC now owns 28,942 shares of the company's stock valued at $6,064,000 after acquiring an additional 175 shares during the period. Vicus Capital grew its holdings in AbbVie by 10.9% during the first quarter. Vicus Capital now owns 3,130 shares of the company's stock valued at $656,000 after purchasing an additional 307 shares during the period. Blackston Financial Advisory Group LLC increased its position in AbbVie by 1.9% in the first quarter. Blackston Financial Advisory Group LLC now owns 4,919 shares of the company's stock worth $1,030,000 after buying an additional 91 shares in the last quarter. Fortitude Advisory Group L.L.C. raised its stake in shares of AbbVie by 2.1% in the first quarter. Fortitude Advisory Group L.L.C. now owns 5,215 shares of the company's stock worth $1,093,000 after buying an additional 109 shares during the period. Finally, Grove Bank & Trust lifted its position in shares of AbbVie by 14.4% during the 1st quarter. Grove Bank & Trust now owns 15,037 shares of the company's stock valued at $3,151,000 after buying an additional 1,896 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.1%

Shares of NYSE ABBV opened at $190.91 on Tuesday. The stock has a market capitalization of $337.22 billion, a price-to-earnings ratio of 79.55, 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 firm's 50-day moving average price is $184.53 and its 200-day moving average price is $187.61. 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 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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