AbbVie Inc. (NYSE:ABBV) Shares Sold by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 30.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 3,105 shares of the company's stock after selling 1,389 shares during the period. Winthrop Advisory Group LLC's holdings in AbbVie were worth $651,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Tallon Kerry Patrick purchased a new position in shares of AbbVie during the fourth quarter worth $309,000. Capital & Planning LLC lifted its holdings in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after buying an additional 105 shares during the last quarter. LaFleur & Godfrey LLC lifted its holdings in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after buying an additional 3,108 shares during the last quarter. Brighton Jones LLC increased its position in shares of AbbVie by 17.4% during 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 in the last quarter. Finally, Revolve Wealth Partners LLC increased its position in shares of AbbVie by 72.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after purchasing an additional 3,064 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was 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 owns 53,234 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Evercore ISI boosted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued 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, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Trading Up 0.4%

Shares of ABBV stock traded up $0.67 during mid-day trading on Monday, hitting $186.78. 4,433,291 shares of the company's stock were exchanged, compared to its average volume of 6,236,159. AbbVie Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $218.66. The stock has a 50-day simple moving average of $185.97 and a two-hundred day simple moving average of $186.49. 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 stock has a market cap of $329.92 billion, a price-to-earnings ratio of 77.82, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal 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.