Thompson Investment Management Inc. Sells 5,362 Shares of AbbVie Inc. (NYSE:ABBV)

Thompson Investment Management Inc. decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,143 shares of the company's stock after selling 5,362 shares during the quarter. Thompson Investment Management Inc.'s holdings in AbbVie were worth $6,944,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABBV. Tallon Kerry Patrick acquired a new position in AbbVie in the fourth quarter worth about $309,000. Capital & Planning LLC increased its holdings in shares of AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after acquiring an additional 105 shares during the last quarter. LaFleur & Godfrey LLC raised its position in shares of AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC boosted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after purchasing an additional 3,401 shares during the period. Finally, Revolve Wealth Partners LLC increased its stake in AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 0.4%

Shares of AbbVie stock traded up $0.77 during trading on Thursday, hitting $192.27. The stock had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. 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 quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market capitalization 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 (NYSE:ABBV - Get Free Report) last released 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. The company had revenue of $13.34 billion during 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%. The company's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 earnings per share. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ABBV. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Bank of America boosted their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday. Citigroup raised their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

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.