Consilium Wealth Advisory LLC Sells 3,163 Shares of AbbVie Inc. (NYSE:ABBV)

Consilium Wealth Advisory LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 60.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,112 shares of the company’s stock after selling 3,163 shares during the period. Consilium Wealth Advisory LLC’s holdings in AbbVie were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Vanguard Group Inc. lifted its stake in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC lifted its stake in AbbVie by 2.7% in the 4th 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 during the last quarter. Capital Research Global Investors lifted its stake in AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank bought a new position in AbbVie in the 4th quarter valued at approximately $4,459,385,000. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’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 completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $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 is accessible through the SEC website. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Down 0.1%

Shares of NYSE ABBV opened at $190.91 on Tuesday. The stock has a market capitalization of $337.22 billion, a P/E ratio of 79.55, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a 50-day moving average price of $184.53 and a 200-day moving average price of $187.61. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. 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 note on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Bank of America raised their price target on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday, June 9th. Finally, Wells Fargo & Company raised their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

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.