NBT Bank N A NY Sells 1,418 Shares of AbbVie Inc. (NYSE:ABBV)

NBT Bank N A NY lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,232 shares of the company’s stock after selling 1,418 shares during the quarter. NBT Bank N A NY’s holdings in AbbVie were worth $11,153,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie during the 4th quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH grew its holdings in 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 last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The stock was 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $190.91 on Tuesday. The firm’s 50 day simple moving average is $184.53 and its 200 day simple moving average is $187.61. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a market capitalization of $337.22 billion, a price-to-earnings ratio of 79.55, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

AbbVie (NYSE:ABBV) last issued 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. The firm 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 business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on ABBV. Citigroup upped their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. 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 report on Wednesday, March 5th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Finally, Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.