AbbVie Inc. (NYSE:ABBV) Holdings Reduced by Rockland Trust Co.

Rockland Trust Co. decreased its position in AbbVie Inc. (NYSE:ABBV) by 2.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,794 shares of the company’s stock after selling 690 shares during the period. Rockland Trust Co.’s holdings in AbbVie were worth $6,661,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Crestline Management LP boosted its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after acquiring an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group boosted its holdings in shares of AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were 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 in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ABBV shares. Citigroup increased their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI increased their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Wells Fargo & Company increased 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. Finally, Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Eight investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

AbbVie Stock Up 0.4%

AbbVie stock opened at $192.27 on Friday. The firm has a market cap of $339.63 billion, a PE ratio of 80.11, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm’s 50 day moving average price is $183.90 and its two-hundred day moving average price is $187.43. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 EPS. On average, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.