AbbVie Inc. (NYSE:ABBV) Holdings Cut by Carolina Wealth Advisors LLC

Carolina Wealth Advisors LLC decreased its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,443 shares of the company’s stock after selling 2,223 shares during the period. AbbVie comprises approximately 4.0% of Carolina Wealth Advisors LLC’s holdings, making the stock its 7th biggest holding. Carolina Wealth Advisors LLC’s holdings in AbbVie were worth $7,365,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. Aigen Investment Management LP bought a new stake in shares of AbbVie in the 3rd quarter worth about $986,000. Interchange Capital Partners LLC boosted its holdings in shares of AbbVie by 7.9% in the 3rd quarter. Interchange Capital Partners LLC now owns 1,865 shares of the company’s stock valued at $278,000 after buying an additional 137 shares during the period. Rathbones Group PLC boosted its holdings in shares of AbbVie by 17.5% in the 3rd quarter. Rathbones Group PLC now owns 109,206 shares of the company’s stock valued at $16,278,000 after buying an additional 16,280 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of AbbVie by 939.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,434 shares of the company’s stock valued at $214,000 after buying an additional 1,296 shares during the period. Finally, TFB Advisors LLC boosted its holdings in shares of AbbVie by 45.2% in the 3rd quarter. TFB Advisors LLC now owns 2,267 shares of the company’s stock valued at $338,000 after buying an additional 706 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.0 %

Shares of NYSE:ABBV opened at $171.36 on Thursday. The company has a 50 day moving average of $163.63 and a 200-day moving average of $166.41. The firm has a market cap of $302.60 billion, a P/E ratio of 50.85, a P/E/G ratio of 2.19 and a beta of 0.60. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler lifted their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $179.64.

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.