Birch Hill Investment Advisors LLC Sells 182 Shares of AbbVie Inc. (NYSE:ABBV)

Birch Hill Investment Advisors LLC lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 27,654 shares of the company’s stock after selling 182 shares during the period. Birch Hill Investment Advisors LLC’s holdings in AbbVie were worth $5,794,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ABBV. EnRich Financial Partners LLC grew its holdings 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 purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new position in AbbVie in the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 2.9%

NYSE ABBV opened at $185.41 on Wednesday. The firm has a market cap of $327.51 billion, a P/E ratio of 78.90, a P/E/G ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock’s 50-day moving average is $184.64 and its 200-day moving average is $187.59. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABBV. Guggenheim raised their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Bank of America increased their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Cantor Fitzgerald assumed coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by insiders.

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.