Prentiss Smith & Co. Inc. Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Prentiss Smith & Co. Inc. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 5.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,265 shares of the company’s stock after selling 235 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in AbbVie were worth $894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EnRich Financial Partners LLC increased its holdings 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 purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new position in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie during the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH increased its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AbbVie 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 completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by insiders.

AbbVie Stock Down 2.9%

AbbVie stock opened at $185.41 on Wednesday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock 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 1-year low of $163.52 and a 1-year high of $218.66. The business has a fifty day moving average price of $184.64 and a 200-day moving average price of $187.59.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the topic of several research reports. Citigroup raised their price objective on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. BNP Paribas raised AbbVie to a “hold” rating in a research report on Thursday, May 8th. Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.