AbbVie Inc. (NYSE:ABBV) Shares Acquired by Sterling Investment Counsel LLC

Sterling Investment Counsel LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 131.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,251 shares of the company’s stock after acquiring an additional 4,681 shares during the period. Sterling Investment Counsel LLC’s holdings in AbbVie were worth $1,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EnRich Financial Partners LLC increased its position in 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 period. Promus Capital LLC acquired a new position in AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.1%

AbbVie stock opened at $185.26 on Thursday. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a market cap of $327.24 billion, a PE ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The stock’s 50 day moving average price is $184.75 and its 200 day moving average price is $187.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wells Fargo & Company lifted their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Citigroup lifted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.29.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.