AbbVie Inc. (NYSE:ABBV) Shares Sold by Ameliora Wealth Management Ltd.

Ameliora Wealth Management Ltd. trimmed its position in AbbVie Inc. (NYSE:ABBV) by 52.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 477 shares of the company’s stock after selling 523 shares during the quarter. Ameliora Wealth Management Ltd.’s holdings in AbbVie were worth $100,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.4%

Shares of AbbVie stock opened at $189.13 on Tuesday. The stock has a 50-day moving average price of $183.92 and a 200 day moving average price of $187.28. The company has a market cap of $334.09 billion, a P/E ratio of 78.81, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 EPS. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Finally, Bank of America increased their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Company 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.