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

Mather Group LLC. trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 31.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,198 shares of the company’s stock after selling 12,300 shares during the quarter. Mather Group LLC.’s holdings in AbbVie were worth $4,953,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $26,000. Able Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter valued at $36,000. Ables Iannone Moore & Associates Inc. purchased a new stake in AbbVie in the fourth quarter valued at $37,000. Finally, Clarity Asset Management Inc. acquired a new position in AbbVie in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.0 %

Shares of ABBV opened at $171.36 on Thursday. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market cap of $302.60 billion, a price-to-earnings ratio of 50.85, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The firm has a 50 day simple moving average of $163.63 and a 200-day simple moving average of $166.41.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. Equities analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays decreased their price target 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. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price for the company. Finally, Guggenheim upped their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $179.64.

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.