AbbVie Inc. (NYSE:ABBV) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,877 shares of the company’s stock after selling 135 shares during the period. Marshall Financial Group LLC’s holdings in AbbVie were worth $1,231,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. EnRich Financial Partners LLC lifted its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the fourth quarter worth approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

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

AbbVie Trading Up 0.4%

AbbVie stock opened at $192.27 on Friday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The firm’s 50-day moving average is $183.90 and its 200-day moving average is $187.43. 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 cap of $339.63 billion, a P/E ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50.

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

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Bank of America raised their target price on AbbVie to $204.00 and gave the company a “hold” rating in a report on Monday. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.29.

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.