Global Trust Asset Management LLC Has $877,000 Stake in AbbVie Inc. (NYSE:ABBV)

Global Trust Asset Management LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 2.1% during the first quarter, HoldingsChannel.com reports. The firm owned 4,188 shares of the company’s stock after selling 90 shares during the period. Global Trust Asset Management LLC’s holdings in AbbVie were worth $877,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its stake in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors increased its position in shares of AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of AbbVie by 15.1% during the 4th 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. Finally, Norges Bank bought a new position in shares of AbbVie during the fourth quarter worth approximately $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Bank of America lifted their target price on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Finally, Citigroup boosted their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.91 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a fifty day simple moving average of $184.53 and a two-hundred day simple moving average of $187.61. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The firm has a market capitalization of $337.22 billion, a PE ratio of 79.55, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly 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. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on 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 sale, the executive vice president now owns 53,234 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate 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.