AbbVie Inc. (NYSE:ABBV) is Griffin Asset Management Inc.’s 5th Largest Position

Griffin Asset Management Inc. trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 13.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,343 shares of the company’s stock after selling 14,063 shares during the period. AbbVie accounts for about 2.0% of Griffin Asset Management Inc.’s holdings, making the stock its 5th biggest holding. Griffin Asset Management Inc.’s holdings in AbbVie were worth $15,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Castle Financial & Retirement Planning Associates Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $25,000. Intelligent Financial Strategies acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $27,000. Psagot Value Holdings Ltd. Israel increased its stake in shares of AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after purchasing an additional 3,300 shares during the period. Steward Financial Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $41,000. 67.03% of the stock is owned by institutional investors.

AbbVie stock opened at $147.56 on Thursday. The company has a 50 day moving average price of $150.17 and a 200 day moving average price of $146.18. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. The firm has a market capitalization of $260.75 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 4.04 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. During the same quarter in the prior year, the firm earned $2.95 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 14.02 earnings per share for the current fiscal year.

ABBV has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. Barclays raised their price objective on shares of AbbVie from $150.00 to $174.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 12th. The Goldman Sachs Group raised their price objective on shares of AbbVie from $122.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, April 12th. BMO Capital Markets raised their price objective on shares of AbbVie from $161.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Finally, SVB Leerink began coverage on shares of AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $140.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

In other news, Vice Chairman Michael Severino sold 79,801 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total transaction of $12,041,970.90. Following the transaction, the insider now owns 152,103 shares in the company, valued at approximately $22,952,342.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $13,013,800.00. Following the transaction, the executive vice president now owns 16,623 shares in the company, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last quarter, insiders sold 463,761 shares of company stock valued at $70,609,771. Insiders own 0.08% of the company’s stock.

About AbbVie (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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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