AbbVie Inc. (NYSE:ABBV) Shares Sold by Marshall Financial Group LLC

Marshall Financial Group LLC decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.2% in the 1st quarter, HoldingsChannel reports. The firm owned 5,877 shares of the company’s stock after selling 135 shares during the quarter. Marshall Financial Group LLC’s holdings in AbbVie were worth $1,231,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ABBV. Crestline Management LP lifted its position in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after buying an additional 108,993 shares during the period. Quantbot Technologies LP grew its holdings in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after acquiring an additional 276 shares during the period. AXA S.A. raised its position in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group lifted its holdings in AbbVie by 0.9% in the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after acquiring an additional 161 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In related 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 value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Trading Up 0.4%

NYSE:ABBV opened at $192.27 on Friday. The company has a market capitalization of $339.63 billion, a P/E ratio of 80.11, a P/E/G ratio of 1.62 and a beta of 0.50. The stock’s 50 day moving average price is $183.90 and its 200 day moving average price is $187.43. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research 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.