Shell Asset Management Co. Sells 2,429 Shares of AbbVie Inc (NYSE:ABBV)

Shell Asset Management Co. lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 1.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 236,172 shares of the company’s stock after selling 2,429 shares during the quarter. Shell Asset Management Co.’s holdings in AbbVie were worth $17,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of ABBV. Efficient Wealth Management LLC bought a new position in shares of AbbVie during the 1st quarter worth approximately $27,000. Lion Street Advisors LLC bought a new position in shares of AbbVie during the 1st quarter worth approximately $29,000. Altshuler Shaham Ltd lifted its position in shares of AbbVie by 8,825.0% during the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock worth $32,000 after buying an additional 353 shares in the last quarter. Solstein Capital LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Finally, Americana Partners LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. 72.17% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie stock traded down $1.04 during mid-day trading on Friday, reaching $91.98. The company’s stock had a trading volume of 2,255,686 shares, compared to its average volume of 13,309,068. AbbVie Inc has a 12-month low of $62.55 and a 12-month high of $97.86. The company has a market capitalization of $134.66 billion, a P/E ratio of 16.35, a PEG ratio of 1.93 and a beta of 0.82. The firm’s fifty day moving average price is $82.74 and its two-hundred day moving average price is $85.37.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business had revenue of $8.62 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the previous year, the business earned $2.14 EPS. AbbVie’s revenue was up 10.1% compared to the same quarter last year. Equities analysts expect that AbbVie Inc will post 10.7 EPS for the current fiscal year.

In other news, VP Brian L. Durkin purchased 2,200 shares of the business’s stock in a transaction on Wednesday, March 18th. The stock was purchased at an average cost of $68.18 per share, with a total value of $149,996.00. Following the acquisition, the vice president now directly owns 15,294 shares in the company, valued at $1,042,744.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Rapp purchased 2,875 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $91.75 per share, with a total value of $263,781.25. Over the last three months, insiders acquired 8,825 shares of company stock valued at $671,852. Insiders own 0.09% of the company’s stock.

Several equities research analysts have recently issued reports on ABBV shares. Barclays started coverage on shares of AbbVie in a research note on Thursday, February 27th. They set an “equal weight” rating and a $97.00 price target for the company. Piper Sandler raised their price target on shares of AbbVie from $95.00 to $97.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Societe Generale lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. Bank of America started coverage on shares of AbbVie in a research note on Monday. They set a “neutral” rating and a $95.00 price target for the company. Finally, Cowen raised their price target on shares of AbbVie from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $98.23.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; 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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