Pine Haven Investment Counsel Inc Has $3.82 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Pine Haven Investment Counsel Inc cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 18,212 shares of the company’s stock after selling 135 shares during the period. AbbVie accounts for approximately 3.2% of Pine Haven Investment Counsel Inc’s holdings, making the stock its 6th largest holding. Pine Haven Investment Counsel Inc’s holdings in AbbVie were worth $3,816,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ABBV. EnRich Financial Partners LLC increased its holdings in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new stake in AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth approximately $31,000. Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after purchasing an additional 119,141 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.3%

ABBV stock opened at $189.89 on Friday. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a market capitalization of $335.42 billion, a price-to-earnings ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The business’s 50 day moving average price is $184.24 and its two-hundred day moving average price is $186.96. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.31 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Citigroup reissued a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Bank of America boosted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.19.

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.