Aspiriant LLC Lowers Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Aspiriant LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 3.1% during the 1st quarter, HoldingsChannel reports. The firm owned 8,503 shares of the company’s stock after selling 274 shares during the period. Aspiriant LLC’s holdings in AbbVie were worth $1,782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH boosted its holdings in shares of AbbVie by 197.6% in 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 in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ABBV shares. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

ABBV stock opened at $185.41 on Wednesday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock’s 50 day moving average price is $184.64 and its 200 day moving average price is $187.59. The firm has a market cap of $327.51 billion, a P/E ratio of 78.90, a PEG ratio of 1.27 and a beta of 0.50.

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, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.31 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal 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.