AbbVie Inc. (NYSE:ABBV) Stake Lowered by UMB Bank n.a.

UMB Bank n.a. decreased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 103,465 shares of the company's stock after selling 2,196 shares during the period. UMB Bank n.a.'s holdings in AbbVie were worth $21,678,000 as of its most recent filing with the SEC.

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

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 in the company, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of NYSE ABBV traded up $2.42 during trading on Friday, hitting $189.89. The company had a trading volume of 3,604,574 shares, compared to its average volume of 6,241,127. The company has a market cap of $335.42 billion, a P/E ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The business's 50-day moving average is $184.24 and its 200 day moving average is $187.09. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm's revenue 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. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ABBV has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.19.

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.