United Advisor Group LLC Has $611,000 Holdings in AbbVie Inc. (NYSE:ABBV)

United Advisor Group LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,918 shares of the company's stock after selling 1,554 shares during the quarter. United Advisor Group LLC's holdings in AbbVie were worth $611,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. ORG Wealth Partners LLC boosted its position in shares of AbbVie by 54.1% in the 1st quarter. ORG Wealth Partners LLC now owns 22,823 shares of the company's stock worth $4,713,000 after purchasing an additional 8,015 shares during the last quarter. Sterling Investment Counsel LLC lifted its stake in AbbVie by 131.1% in the first quarter. Sterling Investment Counsel LLC now owns 8,251 shares of the company's stock valued at $1,729,000 after buying an additional 4,681 shares during the period. Duncan Williams Asset Management LLC boosted its holdings in AbbVie by 1.5% during the first quarter. Duncan Williams Asset Management LLC now owns 4,933 shares of the company's stock worth $1,034,000 after buying an additional 73 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of AbbVie by 0.8% during the 1st quarter. Boston Trust Walden Corp now owns 25,800 shares of the company's stock worth $5,406,000 after buying an additional 195 shares during the period. Finally, Global X Japan Co. Ltd. increased its stake in shares of AbbVie by 29.6% in the 1st quarter. Global X Japan Co. Ltd. now owns 3,555 shares of the company's stock valued at $745,000 after acquiring an additional 812 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 0.1%

AbbVie stock opened at $185.26 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a fifty day simple moving average of $184.98 and a 200 day simple moving average of $187.60. The company has a market cap of $327.24 billion, a P/E ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 EPS. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ABBV shares. Bank of America lifted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $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 is available through this link. Insiders own 0.25% of the company's stock.

About AbbVie

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.