Wells Trecaso Financial Group LLC Sells 396 Shares of AbbVie Inc. (NYSE:ABBV)

Wells Trecaso Financial Group LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,187 shares of the company’s stock after selling 396 shares during the period. Wells Trecaso Financial Group LLC’s holdings in AbbVie were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EnRich Financial Partners LLC boosted its position in shares of AbbVie by 196.4% in 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 period. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the 4th quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH raised its holdings in AbbVie by 197.6% during 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 period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 2.9%

Shares of ABBV opened at $185.41 on Wednesday. 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 company has a market cap of $327.51 billion, a PE ratio of 78.90, a P/E/G ratio of 1.27 and a beta of 0.50. The business has a fifty day moving average of $184.64 and a 200 day moving average of $187.59.

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 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 analysts’ expectations of $12.91 billion. During the same period in the previous year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ABBV shares. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Eight research 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 a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

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.