Adirondack Trust Co. Sells 119 Shares of AbbVie Inc. (NYSE:ABBV)

Adirondack Trust Co. lessened its position in AbbVie Inc. (NYSE:ABBV) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,988 shares of the company’s stock after selling 119 shares during the period. AbbVie accounts for 1.2% of Adirondack Trust Co.’s investment portfolio, making the stock its 19th biggest position. Adirondack Trust Co.’s holdings in AbbVie were worth $2,911,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the 4th quarter worth $26,000. IFS Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter worth about $36,000. Able Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth about $37,000. Finally, Clarity Asset Management Inc. purchased a new position in AbbVie during the 4th quarter valued at about $42,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.4 %

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

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

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. BMO Capital Markets decreased their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of AbbVie in a research note on Thursday. Barclays reduced 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. Finally, Piper Sandler boosted their target price on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.