Private Trust Co. NA Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Private Trust Co. NA boosted its holdings in shares of AbbVie Inc. (NYSE:ABBVGet Rating) by 3.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 42,915 shares of the company’s stock after purchasing an additional 1,564 shares during the quarter. AbbVie makes up approximately 1.1% of Private Trust Co. NA’s portfolio, making the stock its 14th biggest holding. Private Trust Co. NA’s holdings in AbbVie were worth $6,957,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ABBV. EagleClaw Capital Managment LLC increased its holdings in shares of AbbVie by 3.7% in 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 during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $51,000. Summit Trail Advisors LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $259,000. Capstone Triton Financial Group LLC increased its holdings in shares of AbbVie by 20.6% in the 3rd quarter. Capstone Triton Financial Group LLC now owns 5,682 shares of the company’s stock valued at $617,000 after acquiring an additional 969 shares during the last quarter. Finally, Winning Points Advisors LLC increased its holdings in shares of AbbVie by 3.1% in the 3rd quarter. Winning Points Advisors LLC now owns 7,257 shares of the company’s stock valued at $783,000 after acquiring an additional 219 shares during the last quarter. Institutional investors own 67.03% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. SVB Leerink assumed coverage on AbbVie in a report on Monday, May 23rd. They issued an “underperform” rating and a $140.00 price target for the company. Wells Fargo & Company boosted their price objective on AbbVie from $165.00 to $200.00 in a research report on Monday, May 2nd. Citigroup boosted their price objective on AbbVie from $155.00 to $170.00 in a research report on Tuesday, March 1st. Barclays boosted their price objective on AbbVie from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 12th. Finally, Morgan Stanley boosted their price objective on AbbVie from $142.00 to $192.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $159.75.

Shares of ABBV stock opened at $147.56 on Thursday. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82. AbbVie Inc. has a 1 year low of $105.56 and a 1 year high of $175.91. The stock has a fifty day moving average of $150.17 and a two-hundred day moving average of $146.18. The firm has a market capitalization of $260.75 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 4.04 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. The company had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 EPS. Equities research analysts predict that AbbVie Inc. will post 14.02 earnings per share for the current fiscal year.

In other news, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the sale, the executive vice president now directly owns 16,623 shares of the company’s stock, valued at $2,576,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Michael Severino sold 79,801 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $150.90, for a total value of $12,041,970.90. Following the sale, the insider now directly owns 152,103 shares in the company, valued at $22,952,342.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 463,761 shares of company stock valued at $70,609,771. Insiders own 0.08% of the company’s stock.

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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