AbbVie Inc. (NYSE:ABBV) Position Trimmed by Axecap Investments LLC

Axecap Investments LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 12.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,969 shares of the company’s stock after selling 2,870 shares during the quarter. AbbVie comprises 3.7% of Axecap Investments LLC’s portfolio, making the stock its 5th largest position. Axecap Investments LLC’s holdings in AbbVie were worth $4,393,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ABBV. Norges Bank bought a new position in AbbVie during the fourth quarter valued at approximately $4,459,385,000. GAMMA Investing LLC raised its position in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth $1,190,951,000. FMR LLC increased its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley lifted their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Finally, Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

AbbVie Price Performance

NYSE ABBV opened at $191.27 on Thursday. The firm has a market capitalization of $337.86 billion, a P/E ratio of 79.70, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The firm’s fifty day simple moving average is $183.78 and its two-hundred day simple moving average is $187.32.

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 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 net margin of 7.59% and a return on equity of 296.28%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.31 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

About AbbVie

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.