AbbVie Inc. (NYSE:ABBV) Stake Trimmed by Grassi Investment Management

Grassi Investment Management lowered its stake in AbbVie Inc. (NYSE:ABBV – Get Rating) by 0.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,425 shares of the company’s stock after selling 400 shares during the quarter. AbbVie makes up 1.8% of Grassi Investment Management’s investment portfolio, making the stock its 9th largest holding. Grassi Investment Management’s holdings in AbbVie were worth $17,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ABBV. EagleClaw Capital Managment LLC grew its stake in AbbVie by 3.7% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 70,273 shares of the company’s stock valued at $7,575,000 after acquiring an additional 2,524 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at about $51,000. Summit Trail Advisors LLC acquired a new stake in shares of AbbVie during the 3rd quarter valued at about $259,000. Capstone Triton Financial Group LLC lifted its holdings in shares of AbbVie by 20.6% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 5,682 shares of the company’s stock valued at $617,000 after buying an additional 969 shares during the last quarter. Finally, Winning Points Advisors LLC lifted its holdings in shares of AbbVie by 3.1% during the 3rd quarter. Winning Points Advisors LLC now owns 7,257 shares of the company’s stock valued at $783,000 after buying an additional 219 shares during the last quarter. 67.03% of the stock is currently owned by institutional investors.

In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now directly owns 16,623 shares in the company, valued at $2,576,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael Severino sold 100,000 shares of the company’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $150.81, for a total value of $15,081,000.00. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at $22,938,653.43. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,761 shares of company stock worth $70,609,771. 0.08% of the stock is currently owned by company insiders.

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. Citigroup boosted their target price on AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price for the company. in a report on Friday, May 6th. The Goldman Sachs Group boosted their target price on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday, April 12th. Finally, SVB Leerink began coverage on AbbVie in a report on Monday, May 23rd. They issued an “underperform” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $159.75.

ABBV opened at $147.56 on Thursday. The stock has a market cap of $260.75 billion, a PE ratio of 21.17, a P/E/G ratio of 4.04 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. AbbVie Inc. has a 1 year low of $105.56 and a 1 year high of $175.91. The stock’s 50 day simple moving average is $150.17 and its 200-day simple moving average is $146.18.

AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.01. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. AbbVie’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 earnings per share. Equities analysts forecast that AbbVie Inc. will post 14.02 earnings per share for the current fiscal year.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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