Woodstock Corp Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

Woodstock Corp decreased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,487 shares of the company's stock after selling 1,545 shares during the quarter. AbbVie accounts for approximately 2.0% of Woodstock Corp's investment portfolio, making the stock its 11th largest holding. Woodstock Corp's holdings in AbbVie were worth $19,797,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new position in AbbVie during the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV traded up $0.67 during midday trading on Monday, hitting $186.78. 4,433,291 shares of the company traded hands, compared to its average volume of 6,236,161. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization 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 Inc. has a 52-week low of $158.83 and a 52-week high of $218.66. The business has a 50 day simple moving average of $185.97 and a two-hundred day simple moving average of $186.49.

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, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.31 earnings per share. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABBV. Citigroup restated a "neutral" rating and set a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Truist Financial increased their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated 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 approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.