AbbVie Inc. (NYSE:ABBV) Shares Sold by Royal Capital Wealth Management LLC

Royal Capital Wealth Management LLC trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,610 shares of the company’s stock after selling 407 shares during the period. AbbVie accounts for about 1.2% of Royal Capital Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Royal Capital Wealth Management LLC’s holdings in AbbVie were worth $1,708,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick purchased a new position in shares of AbbVie during the 4th quarter worth about $309,000. Capital & Planning LLC lifted its holdings in shares of AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after acquiring an additional 105 shares during the period. Community Bank of Raymore lifted its holdings in shares of AbbVie by 12.3% during the 4th quarter. Community Bank of Raymore now owns 13,899 shares of the company’s stock worth $2,470,000 after acquiring an additional 1,520 shares during the period. Access Financial Services Inc. lifted its holdings in shares of AbbVie by 1.0% during the 4th quarter. Access Financial Services Inc. now owns 7,313 shares of the company’s stock worth $1,300,000 after acquiring an additional 75 shares during the period. Finally, Wealth Management Partners LLC lifted its holdings in shares of AbbVie by 11.3% during the 4th quarter. Wealth Management Partners LLC now owns 4,287 shares of the company’s stock worth $762,000 after acquiring an additional 434 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock opened at $184.75 on Wednesday. The stock has a market cap of $326.34 billion, a P/E ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50 day moving average of $190.24 and a 200-day moving average of $186.71. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the prior year, the business posted $2.31 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ABBV. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Raymond James reissued an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Citigroup reissued a “neutral” rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Finally, Bank of America increased their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Buying and Selling

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.25% of the stock is owned by insiders.

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.