AbbVie Inc. (NYSE:ABBV) Shares Sold by Meridian Financial Partners LLC

Meridian Financial Partners LLC lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,563 shares of the company’s stock after selling 160 shares during the quarter. Meridian Financial Partners LLC’s holdings in AbbVie were worth $327,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after buying an additional 119,141 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.3%

NYSE:ABBV opened at $189.89 on Friday. The business’s 50-day moving average is $184.24 and its two-hundred day moving average is $187.09. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The firm has a market capitalization of $335.42 billion, a PE ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the company posted $2.31 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $212.19.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by corporate insiders.

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.