Woodstock Corp Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Woodstock Corp trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,062 shares of the company’s stock after selling 541 shares during the period. AbbVie makes up approximately 1.8% of Woodstock Corp’s investment portfolio, making the stock its 9th largest position. Woodstock Corp’s holdings in AbbVie were worth $17,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in AbbVie in the third quarter valued at approximately $986,000. Rathbones Group PLC boosted its holdings in shares of AbbVie by 17.5% during the 3rd quarter. Rathbones Group PLC now owns 109,206 shares of the company’s stock valued at $16,278,000 after acquiring an additional 16,280 shares in the last quarter. V Square Quantitative Management LLC grew its position in AbbVie by 939.1% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,434 shares of the company’s stock worth $214,000 after acquiring an additional 1,296 shares during the last quarter. Acadian Asset Management LLC increased its holdings in AbbVie by 16.4% in the 3rd quarter. Acadian Asset Management LLC now owns 354,943 shares of the company’s stock worth $52,887,000 after purchasing an additional 49,880 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in AbbVie by 5.9% in the third quarter. Clearbridge Investments LLC now owns 3,724,802 shares of the company’s stock valued at $555,219,000 after purchasing an additional 208,675 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.4 %

Shares of AbbVie stock opened at $172.13 on Friday. The firm 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 stock’s 50-day moving average is $163.72 and its 200 day moving average is $166.45. 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 one year low of $130.96 and a one year high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.46 EPS. Equities research analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. Piper Sandler upped their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. 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 report on Monday, April 29th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets reduced their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research report on Thursday. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.