Janney Capital Management LLC Has $21.29 Million Stake in AbbVie Inc. (NYSE:ABBV)

Janney Capital Management LLC lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,592 shares of the company’s stock after selling 5,160 shares during the quarter. AbbVie comprises 1.5% of Janney Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Janney Capital Management LLC’s holdings in AbbVie were worth $21,286,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ABBV. Norges Bank bought a new stake in AbbVie during the fourth quarter valued at $4,459,385,000. GAMMA Investing LLC boosted its position in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock valued at $2,144,382,000 after acquiring an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. bought a new stake in AbbVie during the fourth quarter valued at $1,190,951,000. FMR LLC boosted its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after acquiring an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.1%

NYSE:ABBV opened at $185.26 on Thursday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The firm has a market cap of $327.24 billion, a price-to-earnings ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The firm has a 50-day moving average price of $184.75 and a two-hundred day moving average price of $187.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $2.31 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABBV. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set 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 assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average 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.