Eidelman Virant Capital Cuts Stake in AbbVie Inc. (NYSE:ABBV)

Eidelman Virant Capital cut its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,825 shares of the company’s stock after selling 152 shares during the quarter. Eidelman Virant Capital’s holdings in AbbVie were worth $1,268,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sanders Morris Harris LLC increased its position in shares of AbbVie by 0.3% during the first quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock worth $3,755,000 after acquiring an additional 62 shares during the last quarter. Modus Advisors LLC increased its position in shares of AbbVie by 0.3% during the first quarter. Modus Advisors LLC now owns 19,907 shares of the company’s stock worth $3,227,000 after acquiring an additional 69 shares during the last quarter. McAdam LLC increased its position in shares of AbbVie by 0.5% during the first quarter. McAdam LLC now owns 15,537 shares of the company’s stock worth $2,519,000 after acquiring an additional 70 shares during the last quarter. Charter Oak Capital Management LLC increased its position in shares of AbbVie by 1.1% during the fourth quarter. Charter Oak Capital Management LLC now owns 6,527 shares of the company’s stock worth $884,000 after acquiring an additional 73 shares during the last quarter. Finally, First Farmers & Merchants Bank Trust increased its position in shares of AbbVie by 0.6% during the first quarter. First Farmers & Merchants Bank Trust now owns 13,021 shares of the company’s stock worth $2,111,000 after acquiring an additional 73 shares during the last quarter. 67.03% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on ABBV. UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $129.00 to $147.00 in a research report on Monday, February 28th. BMO Capital Markets lifted their price target on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Wells Fargo & Company lifted their price target on AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. Citigroup lifted their price target on AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. Finally, The Goldman Sachs Group lifted their price target on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.75.

In related news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at $2,576,565. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction that occurred 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 approximately $22,938,653.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 463,761 shares of company stock worth $70,609,771. Corporate insiders own 0.08% of the company’s stock.

ABBV opened at $147.56 on Thursday. The business’s 50 day moving average is $150.17 and its 200-day moving average is $146.18. The stock has a market cap of $260.75 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91.

AbbVie (NYSE:ABBV – Get Rating) last released 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. The company had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.95 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 14.02 EPS for the current year.

AbbVie Company 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.

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