Segment Wealth Management LLC Sells 200 Shares of AbbVie Inc. (NYSE:ABBV)

Segment Wealth Management LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,845 shares of the company’s stock after selling 200 shares during the quarter. Segment Wealth Management LLC’s holdings in AbbVie were worth $1,225,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Eight 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’s stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $211.29.

Insider Transactions at AbbVie

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

AbbVie Stock Performance

Shares of AbbVie stock opened at $185.26 on Friday. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. 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 50 day moving average price of $184.98 and a 200-day moving average price of $187.60. The company has a market cap of $327.24 billion, a PE ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced its quarterly 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. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate 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.