AbbVie Inc. (NYSE:ABBV) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 6.2% in the 1st quarter, Holdings Channel reports. The firm owned 5,038 shares of the company’s stock after selling 331 shares during the quarter. Stableford Capital II LLC’s holdings in AbbVie were worth $917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. American National Bank lifted its stake in shares of AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares during the period. AXS Investments LLC increased its holdings in AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after acquiring an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. increased its holdings in AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. increased its holdings in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after acquiring an additional 4,633 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.4 %

Shares of ABBV stock opened at $172.13 on Friday. The stock has a market cap of $303.96 billion, a price-to-earnings ratio of 51.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The firm’s 50 day moving average price is $163.72 and its two-hundred day moving average price is $166.45.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of AbbVie in a report on Thursday. Finally, BMO Capital Markets lowered 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. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $179.64.

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.