Chatham Capital Group Inc. Decreases Holdings in AbbVie Inc. (NYSE:ABBV)

Chatham Capital Group Inc. reduced its position in AbbVie Inc. (NYSE:ABBV) by 4.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 35,013 shares of the company’s stock after selling 1,459 shares during the period. AbbVie accounts for approximately 1.2% of Chatham Capital Group Inc.’s investment portfolio, making the stock its 23rd largest holding. Chatham Capital Group Inc.’s holdings in AbbVie were worth $7,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crestline Management LP increased its position in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. boosted its stake in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group raised its holdings in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock worth $3,190,000 after acquiring an additional 161 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 0.0%

NYSE ABBV opened at $187.30 on Thursday. The company has a fifty day simple moving average of $185.01 and a two-hundred day simple moving average of $186.65. AbbVie Inc. has a 12-month low of $162.16 and a 12-month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $330.85 billion, a P/E ratio of 78.04, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Company Profile

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.