Axecap Investments LLC Has $4.39 Million Stake in AbbVie Inc. (NYSE:ABBV)

Axecap Investments LLC trimmed its position in AbbVie Inc. (NYSE:ABBV) by 12.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,969 shares of the company’s stock after selling 2,870 shares during the period. AbbVie accounts for approximately 3.7% of Axecap Investments LLC’s investment portfolio, making the stock its 5th biggest position. Axecap Investments LLC’s holdings in AbbVie were worth $4,393,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EnRich Financial Partners LLC increased its holdings in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new stake in AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH grew its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $191.27 on Thursday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market capitalization of $337.86 billion, a P/E ratio of 79.70, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a fifty day moving average of $183.78 and a 200-day moving average of $187.32. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABBV. Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Company 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.