MADDEN SECURITIES Corp Sells 215 Shares of AbbVie Inc. (NYSE:ABBV)

MADDEN SECURITIES Corp cut its holdings in AbbVie Inc. (NYSE:ABBV) by 1.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,815 shares of the company’s stock after selling 215 shares during the quarter. AbbVie accounts for approximately 1.1% of MADDEN SECURITIES Corp’s investment portfolio, making the stock its 28th largest position. MADDEN SECURITIES Corp’s holdings in AbbVie were worth $2,334,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $3,229,888,000. International Assets Investment Management LLC purchased a new stake in AbbVie during the 4th quarter valued at $499,955,000. Capital International Investors lifted its position in AbbVie by 6.0% in the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after acquiring an additional 1,702,415 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV 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 business has a 50-day moving average price of $163.72 and a 200 day moving average price of $166.45. The company has a market capitalization of $303.96 billion, a P/E 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.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 analyst estimates of $11.93 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 11.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on ABBV shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research note on Thursday. Barclays decreased their price objective 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. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Wednesday, June 5th. Piper Sandler raised their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.