Arden Trust Co Sells 143 Shares of AbbVie Inc. (NYSE:ABBV)

Arden Trust Co trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,835 shares of the company’s stock after selling 143 shares during the period. Arden Trust Co’s holdings in AbbVie were worth $1,245,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. American National Bank raised its stake in AbbVie by 4.8% in the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC raised its stake in AbbVie by 3.3% in the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock valued at $1,477,000 after acquiring an additional 307 shares during the period. TCI Wealth Advisors Inc. raised its stake in AbbVie by 1.0% in the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after acquiring an additional 165 shares during the period. Mizuho Markets Americas LLC raised its stake in AbbVie by 33.4% in the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock valued at $4,791,000 after acquiring an additional 7,737 shares during the period. Finally, Retirement Planning Co of New England Inc. raised its stake in AbbVie by 21.3% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after acquiring an additional 4,633 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV stock opened at $171.35 on Wednesday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a 50 day moving average price of $163.58 and a two-hundred day moving average price of $166.38. The company has a market capitalization of $302.58 billion, a P/E ratio of 50.85, a PEG ratio of 2.17 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday, June 5th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald assumed coverage on AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Finally, Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

Read Our Latest Research Report on AbbVie

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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