First Financial Bank Trust Division Sells 1,130 Shares of AbbVie Inc. (NYSE:ABBV)

First Financial Bank Trust Division reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,177 shares of the company’s stock after selling 1,130 shares during the period. First Financial Bank Trust Division’s holdings in AbbVie were worth $5,066,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its holdings in shares of 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 in the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $32,000. 70.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Raymond James reissued an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim boosted their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Bank of America boosted their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Trading Down 1.5%

ABBV stock opened at $182.98 on Thursday. The company has a market cap of $323.22 billion, a P/E ratio of 76.24, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The business has a fifty day moving average of $186.76 and a 200-day moving average of $186.09.

AbbVie (NYSE:ABBV) last released its earnings results 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 company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value 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 approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.08% of the stock is currently owned by corporate insiders.

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.