TCTC Holdings LLC Sells 4,540 Shares of AbbVie Inc (NYSE:ABBV)

TCTC Holdings LLC lessened its position in AbbVie Inc (NYSE:ABBV) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,657 shares of the company’s stock after selling 4,540 shares during the quarter. AbbVie comprises about 1.0% of TCTC Holdings LLC’s investment portfolio, making the stock its 28th biggest position. TCTC Holdings LLC’s holdings in AbbVie were worth $13,231,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ABBV. Doyle Wealth Management increased its holdings in shares of AbbVie by 2.2% during the 4th quarter. Doyle Wealth Management now owns 4,948 shares of the company’s stock worth $438,000 after purchasing an additional 108 shares during the period. Roosevelt Investment Group Inc. boosted its position in shares of AbbVie by 2.7% during the 4th quarter. Roosevelt Investment Group Inc. now owns 4,201 shares of the company’s stock valued at $372,000 after acquiring an additional 110 shares in the last quarter. Waldron Private Wealth LLC boosted its position in shares of AbbVie by 0.4% during the 4th quarter. Waldron Private Wealth LLC now owns 32,475 shares of the company’s stock valued at $2,875,000 after acquiring an additional 114 shares in the last quarter. Dividend Assets Capital LLC boosted its position in shares of AbbVie by 4.2% during the 4th quarter. Dividend Assets Capital LLC now owns 2,929 shares of the company’s stock valued at $259,000 after acquiring an additional 117 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in shares of AbbVie by 8.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 1,576 shares of the company’s stock valued at $140,000 after acquiring an additional 124 shares in the last quarter. Hedge funds and other institutional investors own 72.32% of the company’s stock.

Shares of ABBV traded down $1.67 during trading hours on Wednesday, hitting $89.04. The company had a trading volume of 6,338,782 shares, compared to its average volume of 12,911,551. The firm has a market cap of $136.01 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 1.95 and a beta of 0.82. The business has a fifty day moving average of $84.54 and a 200-day moving average of $85.65. AbbVie Inc has a 12 month low of $62.55 and a 12 month high of $97.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 1st. The company reported $2.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.25 by $0.17. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.14 earnings per share. On average, sell-side analysts forecast that AbbVie Inc will post 10.7 earnings per share for the current fiscal year.

In other AbbVie news, Director Edward J. Rapp purchased 2,875 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were acquired at an average cost of $91.75 per share, with a total value of $263,781.25. Also, SVP Jeffrey Ryan Stewart sold 23,024 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the transaction, the senior vice president now directly owns 52,760 shares in the company, valued at $4,748,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 8,825 shares of company stock worth $671,852. 0.09% of the stock is owned by insiders.

A number of research firms have commented on ABBV. Societe Generale lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 23rd. SVB Leerink boosted their price target on shares of AbbVie from $107.00 to $122.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. UBS Group lowered their target price on shares of AbbVie from $106.00 to $96.00 and set a “buy” rating for the company in a research note on Monday, April 13th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 14th. Finally, Piper Sandler upped their price target on shares of AbbVie from $95.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. AbbVie has an average rating of “Buy” and a consensus target price 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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