First Affirmative Financial Network Reduces Stock Position in AbbVie Inc. (NYSE:ABBV)

First Affirmative Financial Network cut its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 24.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,228 shares of the company’s stock after selling 706 shares during the period. First Affirmative Financial Network’s holdings in AbbVie were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. LifeSteps Financial Inc. grew its position in AbbVie by 2.8% in the first quarter. LifeSteps Financial Inc. now owns 7,591 shares of the company’s stock worth $1,231,000 after acquiring an additional 210 shares during the period. Sara Bay Financial grew its position in AbbVie by 3.8% in the first quarter. Sara Bay Financial now owns 13,523 shares of the company’s stock worth $2,192,000 after acquiring an additional 489 shares during the period. First American Trust FSB grew its position in AbbVie by 41.8% in the first quarter. First American Trust FSB now owns 2,672 shares of the company’s stock worth $433,000 after acquiring an additional 788 shares during the period. Private Trust Co. NA grew its position in AbbVie by 3.8% in the first quarter. Private Trust Co. NA now owns 42,915 shares of the company’s stock worth $6,957,000 after acquiring an additional 1,564 shares during the period. Finally, CHURCHILL MANAGEMENT Corp grew its position in AbbVie by 8.9% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 43,035 shares of the company’s stock worth $6,976,000 after acquiring an additional 3,516 shares during the period. Institutional investors and hedge funds own 67.03% of the company’s stock.

Several research analysts recently weighed in on ABBV shares. BMO Capital Markets increased their price objective on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 25th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price target on the stock. in a research note on Friday, May 6th. Citigroup upped their price target on AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. SVB Leerink started coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target on the stock. Finally, StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $150.81, for a total value of $15,081,000.00. Following the sale, the insider now directly owns 152,103 shares in the company, valued at $22,938,653.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares in the company, valued at $2,576,565. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 463,761 shares of company stock worth $70,609,771. 0.08% of the stock is owned by insiders.

Shares of NYSE ABBV opened at $147.56 on Thursday. AbbVie Inc. has a 12-month low of $105.56 and a 12-month high of $175.91. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The stock has a market cap of $260.75 billion, a P/E ratio of 21.17, a PEG ratio of 4.04 and a beta of 0.83. The business’s fifty day simple moving average is $150.17 and its 200-day simple moving average is $146.18.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same period last year, the firm earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 14.02 EPS for the current fiscal year.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Read More

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.