Collective Family Office LLC Sells 438 Shares of AbbVie Inc. (NYSE:ABBV)

Collective Family Office LLC reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 6.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,897 shares of the company’s stock after selling 438 shares during the quarter. Collective Family Office LLC’s holdings in AbbVie were worth $1,236,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $29,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% in 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 last quarter. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Performance

ABBV opened at $182.98 on Thursday. The business’s 50-day moving average price is $186.76 and its two-hundred day moving average price is $186.09. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a market capitalization of $323.22 billion, a price-to-earnings ratio of 76.24, a P/E/G ratio of 1.62 and a beta of 0.56. 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 announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter last year, the company earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ABBV shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Finally, Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. 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, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

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.