TCI Wealth Advisors Inc. Sells 1,106 Shares of AbbVie Inc. (NYSE:ABBV)

TCI Wealth Advisors Inc. cut its position in AbbVie Inc. (NYSE:ABBV) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,276 shares of the company’s stock after selling 1,106 shares during the period. TCI Wealth Advisors Inc.’s holdings in AbbVie were worth $3,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new stake in shares of AbbVie during the fourth quarter worth about $309,000. Capital & Planning LLC grew its holdings in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after buying an additional 105 shares in the last quarter. LaFleur & Godfrey LLC raised its position in shares of AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares during the last quarter. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC lifted its holdings in shares of AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’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 transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Down 0.1%

NYSE ABBV opened at $185.26 on Thursday. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The firm has a market capitalization of $327.24 billion, a price-to-earnings ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. The company has a fifty day moving average of $184.75 and a two-hundred day moving average of $187.58.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Citigroup increased their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Finally, Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.29.

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.