Silvercrest Asset Management Group LLC Sells 22,241 Shares of AbbVie Inc. (NYSE:ABBV)

Silvercrest Asset Management Group LLC decreased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 15.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 125,712 shares of the company's stock after selling 22,241 shares during the period. Silvercrest Asset Management Group LLC's holdings in AbbVie were worth $22,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC boosted its position in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after acquiring an additional 52 shares during the period. Peninsula Wealth LLC boosted its position in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares during the period. Physicians Financial Services Inc. grew its stake in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after buying an additional 55 shares during the last quarter. Finally, Sound Financial Strategies Group LLC increased its stake in shares of AbbVie by 5.3% during the fourth quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock worth $213,000 after purchasing an additional 60 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Up 0.9%

ABBV traded up $1.62 during midday trading on Monday, reaching $185.64. 5,210,314 shares of the company were exchanged, compared to its average volume of 6,243,744. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company's fifty day moving average price is $191.30 and its 200 day moving average price is $186.85. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a market cap of $327.92 billion, a price-to-earnings ratio of 77.35, a price-to-earnings-growth 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 for the quarter, topping the consensus estimate of $2.40 by $0.06. The business 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 business's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Bank of America raised their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Raymond James reaffirmed an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Citigroup reiterated a "neutral" rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, UBS Group increased their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of "Moderate Buy" and an average price target of $210.95.

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.