AbbVie Inc. (NYSE:ABBV) Stake Cut by Unigestion Holding SA

Unigestion Holding SA reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 55.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,740 shares of the company’s stock after selling 30,983 shares during the period. Unigestion Holding SA’s holdings in AbbVie were worth $5,184,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Kwmg LLC increased its position in AbbVie by 10.3% in the 1st quarter. Kwmg LLC now owns 1,372 shares of the company’s stock worth $287,000 after purchasing an additional 128 shares during the last quarter. RFG Advisory LLC increased its position in AbbVie by 43.4% in the 1st quarter. RFG Advisory LLC now owns 38,444 shares of the company’s stock worth $8,055,000 after purchasing an additional 11,628 shares during the last quarter. Capital Asset Advisory Services LLC increased its position in AbbVie by 7.5% in the 1st quarter. Capital Asset Advisory Services LLC now owns 19,828 shares of the company’s stock worth $4,068,000 after purchasing an additional 1,380 shares during the last quarter. Merit Financial Group LLC increased its position in AbbVie by 19.9% in the 1st quarter. Merit Financial Group LLC now owns 59,033 shares of the company’s stock worth $12,369,000 after purchasing an additional 9,807 shares during the last quarter. Finally, Marquette Asset Management LLC increased its position in AbbVie by 122.0% in the 1st quarter. Marquette Asset Management LLC now owns 444 shares of the company’s stock worth $93,000 after purchasing an additional 244 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Truist Financial upped their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. UBS Group upped their target price on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Stock Performance

ABBV opened at $186.78 on Tuesday. The firm has a market capitalization of $329.92 billion, a P/E ratio of 77.82, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The stock’s 50 day moving average price is $185.68 and its two-hundred day moving average price is $186.64. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $158.83 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV) last released 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. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 EPS. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie 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.