AbbVie Inc. (NYSE:ABBV) Shares Sold by Appleton Partners Inc. MA

Appleton Partners Inc. MA reduced its position in AbbVie Inc. (NYSE:ABBV) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,276 shares of the company’s stock after selling 1,569 shares during the period. Appleton Partners Inc. MA’s holdings in AbbVie were worth $7,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $27,290,000. Fairman Group LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $77,000. Livelsberger Financial Advisory acquired a new position in shares of AbbVie in the 4th quarter valued at about $626,000. Warren Street Wealth Advisors LLC acquired a new position in AbbVie during the 4th quarter worth approximately $238,000. Finally, Accent Capital Management LLC acquired a new position in AbbVie during the 4th quarter worth approximately $542,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV opened at $171.35 on Wednesday. The company has a market cap of $302.58 billion, a P/E ratio of 50.85, a PEG ratio of 2.16 and a beta of 0.60. The stock has a fifty day moving average price of $163.58 and a 200 day moving average price of $166.38. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Piper Sandler boosted their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald started coverage on AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. Finally, Guggenheim lifted their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.64.

About AbbVie

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.