Winthrop Advisory Group LLC Has $651,000 Stake in AbbVie Inc. (NYSE:ABBV)

Winthrop Advisory Group LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 30.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,105 shares of the company’s stock after selling 1,389 shares during the period. Winthrop Advisory Group LLC’s holdings in AbbVie were worth $651,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter worth about $29,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE ABBV opened at $185.53 on Friday. The business has a fifty day moving average price of $185.97 and a two-hundred day moving average price of $186.26. The stock has a market capitalization of $327.72 billion, a PE ratio of 77.30, 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 Inc. has a fifty-two week low of $156.20 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The business 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%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction 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 $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Raymond James restated 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. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Citigroup reiterated a “neutral” rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.95.

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.