Private Trust Co. NA Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Private Trust Co. NA raised its stake in AbbVie Inc. (NYSE:ABBVGet Rating) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,915 shares of the company’s stock after purchasing an additional 1,564 shares during the period. AbbVie accounts for about 1.1% of Private Trust Co. NA’s holdings, making the stock its 14th biggest position. Private Trust Co. NA’s holdings in AbbVie were worth $6,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ABBV. Castle Financial & Retirement Planning Associates Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $25,000. Intelligent Financial Strategies acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $27,000. Psagot Value Holdings Ltd. Israel boosted its holdings in shares of AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock valued at $28,000 after acquiring an additional 3,300 shares during the period. Steward Financial Group LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Finally, Maryland Capital Advisors Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $41,000. Institutional investors own 67.03% of the company’s stock.

Several equities research analysts recently weighed in on ABBV shares. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. SVB Leerink started coverage on AbbVie in a report on Monday, May 23rd. They set an “underperform” rating and a $140.00 price target for the company. Barclays increased their price target on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 price target for the company. in a report on Friday, May 6th. Finally, Wells Fargo & Company increased their price target on AbbVie from $165.00 to $200.00 in a report on Monday, May 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $159.75.

In related news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,938,653.43. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last 90 days, insiders sold 463,761 shares of company stock valued at $70,609,771. Company insiders own 0.08% of the company’s stock.

Shares of ABBV stock opened at $147.56 on Thursday. AbbVie Inc. has a fifty-two week low of $105.56 and a fifty-two week high of $175.91. The stock has a market cap of $260.75 billion, a P/E ratio of 21.17, a P/E/G ratio of 4.04 and a beta of 0.83. The business has a fifty day simple moving average of $150.17 and a 200-day simple moving average of $146.18. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.61 billion. During the same quarter last year, the business posted $2.95 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 14.02 earnings per share for the current year.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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