AbbVie Inc. (NYSE:ABBV) Shares Sold by Compagnie Lombard Odier SCmA

Compagnie Lombard Odier SCmA cut its stake in AbbVie Inc. (NYSE:ABBV) by 4.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 343,159 shares of the company’s stock after selling 14,741 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in AbbVie were worth $71,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. EnRich Financial Partners LLC boosted its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $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 increased its position in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock worth $32,000 after buying an additional 119,141 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ABBV. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Evercore ISI lifted their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Trading Up 0.9%

Shares of ABBV opened at $191.27 on Thursday. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock’s 50-day moving average is $183.78 and its two-hundred day moving average is $187.32. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The stock has a market cap of $337.86 billion, a PE ratio of 79.70, a P/E/G ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the prior year, the business earned $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

AbbVie 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.