Global Trust Asset Management LLC Has $877,000 Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Global Trust Asset Management LLC trimmed its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,188 shares of the company’s stock after selling 90 shares during the period. Global Trust Asset Management LLC’s holdings in AbbVie were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter worth approximately $32,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ABBV. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Bank of America boosted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Eight research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Trading Down 0.1%

Shares of ABBV stock opened at $190.91 on Tuesday. The company has a market capitalization of $337.22 billion, a P/E ratio of 79.55, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a 50-day moving average price of $184.53 and a 200 day moving average price of $187.61.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.