WMS Partners LLC Has $879,000 Stake in AbbVie Inc (NYSE:ABBV)

WMS Partners LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 6.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,537 shares of the company’s stock after selling 850 shares during the quarter. WMS Partners LLC’s holdings in AbbVie were worth $879,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ABBV. Efficient Wealth Management LLC bought a new position in shares of AbbVie in the 1st quarter worth about $27,000. Altshuler Shaham Ltd raised its position in shares of AbbVie by 8,825.0% in the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock worth $32,000 after acquiring an additional 353 shares in the last quarter. Solstein Capital LLC bought a new position in shares of AbbVie in the 4th quarter worth about $32,000. Americana Partners LLC bought a new position in shares of AbbVie in the 4th quarter worth about $32,000. Finally, Virtus ETF Advisers LLC bought a new position in shares of AbbVie in the 4th quarter worth about $33,000. 72.44% of the stock is currently owned by institutional investors and hedge funds.

ABBV stock traded down $0.15 during mid-day trading on Wednesday, reaching $90.89. 8,583,979 shares of the company traded hands, compared to its average volume of 13,100,868. AbbVie Inc has a fifty-two week low of $62.55 and a fifty-two week high of $97.86. The firm’s 50 day moving average price is $86.48 and its 200 day moving average price is $85.90. The stock has a market cap of $133.94 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.92 and a beta of 0.85.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.25 by $0.17. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The firm had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the firm earned $2.14 EPS. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc will post 10.7 EPS for the current fiscal year.

Several research analysts have recently weighed in on ABBV shares. ValuEngine lowered AbbVie from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 27th. Mizuho reissued a “buy” rating and issued a $100.00 price objective on shares of AbbVie in a research report on Friday, May 1st. SVB Leerink raised their target price on AbbVie from $107.00 to $122.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Societe Generale downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Piper Sandler raised their target price on AbbVie from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $101.31.

In related news, SVP Jeffrey Ryan Stewart sold 23,024 shares of AbbVie stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $90.00, for a total value of $2,072,160.00. Following the sale, the senior vice president now owns 52,760 shares of the company’s stock, valued at approximately $4,748,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Durkin purchased 3,750 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was bought at an average cost of $68.82 per share, for a total transaction of $258,075.00. Following the acquisition, the vice president now directly owns 15,294 shares in the company, valued at approximately $1,052,533.08. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

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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