AbbVie Inc. (NYSE:ABBV) Stock Holdings Reduced by Bender Robert & Associates

Bender Robert & Associates reduced its position in AbbVie Inc. (NYSE:ABBV) by 21.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,364 shares of the company’s stock after selling 933 shares during the period. AbbVie comprises about 0.2% of Bender Robert & Associates’ holdings, making the stock its 27th largest position. Bender Robert & Associates’ holdings in AbbVie were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Shepherd Financial Partners LLC lifted its position in shares of AbbVie by 1.9% in the first quarter. Shepherd Financial Partners LLC now owns 25,602 shares of the company’s stock worth $5,364,000 after buying an additional 466 shares during the last quarter. Clarius Group LLC increased its holdings in shares of AbbVie by 26.5% during the 1st quarter. Clarius Group LLC now owns 20,148 shares of the company’s stock valued at $4,221,000 after acquiring an additional 4,218 shares during the last quarter. DHJJ Financial Advisors Ltd. raised its stake in shares of AbbVie by 5.8% in the 1st quarter. DHJJ Financial Advisors Ltd. now owns 1,563 shares of the company’s stock valued at $327,000 after acquiring an additional 86 shares in the last quarter. Tennessee Valley Asset Management Partners lifted its holdings in AbbVie by 0.4% in the 1st quarter. Tennessee Valley Asset Management Partners now owns 23,868 shares of the company’s stock worth $5,001,000 after purchasing an additional 102 shares during the last quarter. Finally, Bell Bank lifted its holdings in AbbVie by 0.8% in the 1st quarter. Bell Bank now owns 73,770 shares of the company’s stock worth $15,456,000 after purchasing an additional 620 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Bank of America boosted their target price on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $185.41 on Wednesday. The firm has a market capitalization of $327.51 billion, a price-to-earnings ratio of 78.90, a PEG ratio of 1.27 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The business has a fifty day simple moving average of $184.64 and a 200 day simple moving average of $187.59. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 7.31% and a return on equity of 412.03%. 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 prior year, the company posted $2.31 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

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.