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

Compass Ion Advisors LLC cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,339 shares of the company’s stock after selling 317 shares during the quarter. Compass Ion Advisors LLC’s holdings in AbbVie were worth $1,957,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie during the 4th quarter worth $32,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $36,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on ABBV shares. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. Evercore ISI raised their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.1%

ABBV opened at $185.26 on Friday. The company’s 50 day moving average is $184.98 and its 200-day moving average is $187.60. The company has a market cap of $327.24 billion, a P/E ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $2.31 EPS. Equities research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie 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.