AbbVie Inc. (NYSE:ABBV) Stake Lowered by Hilltop Wealth Advisors LLC

Hilltop Wealth Advisors LLC reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 5.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,269 shares of the company’s stock after selling 72 shares during the period. Hilltop Wealth Advisors LLC’s holdings in AbbVie were worth $266,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Smithbridge Asset Management Inc. DE acquired a new position in AbbVie in the first quarter worth about $8,975,000. Relyea Zuckerberg Hanson LLC raised its position in AbbVie by 0.9% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 24,314 shares of the company’s stock worth $5,094,000 after purchasing an additional 224 shares in the last quarter. Osprey Private Wealth LLC raised its position in AbbVie by 20.8% in the first quarter. Osprey Private Wealth LLC now owns 38,220 shares of the company’s stock worth $8,008,000 after purchasing an additional 6,575 shares in the last quarter. Verity & Verity LLC raised its position in AbbVie by 1.0% in the first quarter. Verity & Verity LLC now owns 173,552 shares of the company’s stock worth $36,363,000 after purchasing an additional 1,700 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its position in AbbVie by 2.6% in the first quarter. NorthCrest Asset Manangement LLC now owns 132,465 shares of the company’s stock worth $27,754,000 after purchasing an additional 3,336 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.4%

ABBV opened at $192.27 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $339.63 billion, a price-to-earnings ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50. The company’s 50 day moving average price is $183.90 and its two-hundred day moving average price is $187.43.

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

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on 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 directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Guggenheim lifted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Eight 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, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus 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.