IAM Advisory LLC Sells 187 Shares of AbbVie Inc. (NYSE:ABBV)

IAM Advisory LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 12.3% during the first quarter, Holdings Channel reports. The institutional investor owned 1,335 shares of the company’s stock after selling 187 shares during the quarter. IAM Advisory LLC’s holdings in AbbVie were worth $280,000 as of its most recent SEC filing.

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

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Citigroup reissued a “neutral” rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Bank of America raised their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.19.

AbbVie Price Performance

NYSE:ABBV opened at $189.89 on Friday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $335.42 billion, a price-to-earnings ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a 50 day moving average price of $184.24 and a 200-day moving average price of $186.96. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. The business’s quarterly revenue was up 8.4% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

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.