AbbVie Inc. (NYSE:ABBV) Shares Sold by Collective Family Office LLC

Collective Family Office LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,950 shares of the company’s stock after selling 174 shares during the period. Collective Family Office LLC’s holdings in AbbVie were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ABBV. American National Bank grew its stake in AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after buying an additional 2,695 shares during the last quarter. AXS Investments LLC grew its stake in shares of AbbVie by 3.3% in the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after purchasing an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in shares of AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after purchasing an additional 165 shares during the last quarter. Mizuho Markets Americas LLC grew its stake in shares of AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after purchasing an additional 7,737 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of AbbVie by 21.3% in 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 purchasing an additional 4,633 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.4 %

NYSE:ABBV opened at $172.13 on Friday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The firm has a market capitalization of $303.96 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The stock has a 50 day moving average of $163.72 and a 200-day moving average of $166.45. 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 data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the company posted $2.46 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 11.27 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a report on Thursday. Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Piper Sandler lifted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment 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, AbbVie 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.