AbbVie Inc. (NYSE:ABBV) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC reduced its holdings in AbbVie Inc. (NYSE:ABBV) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,444 shares of the company’s stock after selling 212 shares during the quarter. Crewe Advisors LLC’s holdings in AbbVie were worth $512,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased 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 acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its position in AbbVie by 197.6% in the 4th 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 during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ABBV shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Guggenheim increased 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 raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, Evercore ISI increased their price target on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Performance

ABBV opened at $185.16 on Monday. The firm has a market cap of $327.06 billion, a PE ratio of 78.79, a P/E/G ratio of 1.23 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The business has a fifty day simple moving average of $185.19 and a 200-day simple moving average of $187.78. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, July 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.54%. AbbVie’s dividend payout ratio (DPR) is presently 279.15%.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was 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 owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by insiders.

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.