AbbVie Inc. (NYSE:ABBV) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 12,541 shares of the company’s stock after selling 140 shares during the period. GPS Wealth Strategies Group LLC’s holdings in AbbVie were worth $2,628,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC lifted its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the fourth quarter worth $32,000. Finally, Siemens Fonds Invest GmbH lifted its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $191.27 on Thursday. The stock’s 50-day simple moving average is $183.78 and its 200-day simple moving average is $187.32. 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 has a market capitalization of $337.86 billion, a PE ratio of 79.70, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling at AbbVie

In other AbbVie 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 approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Citigroup lifted their price target on AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities 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 an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Company 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.