Krilogy Financial LLC Sells 710 Shares of AbbVie Inc. (NYSE:ABBV)

Krilogy Financial LLC trimmed its stake in AbbVie Inc. (NYSE:ABBV) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,622 shares of the company’s stock after selling 710 shares during the period. Krilogy Financial LLC’s holdings in AbbVie were worth $2,225,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EnRich Financial Partners LLC boosted its stake in 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 purchasing an additional 110 shares in the last quarter. Promus Capital LLC acquired a new position in AbbVie in the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie in the fourth quarter worth $32,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter worth $36,000. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AbbVie 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ABBV. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target on the stock. Eight research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Trading Down 0.9%

NYSE ABBV opened at $190.67 on Friday. The stock has a 50-day simple moving average of $184.21 and a 200 day simple moving average of $187.49. The company has a market capitalization of $336.80 billion, a PE ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating 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 business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

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.