Stock Yards Bank & Trust Co. Decreases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Stock Yards Bank & Trust Co. lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,243 shares of the company’s stock after selling 2,429 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in AbbVie were worth $13,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crestline Management LP grew its stake 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 acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP raised 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 buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP raised its position in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares during the last quarter. AXA S.A. raised its position in shares of 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 position in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after buying an additional 161 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $12,359,426.56. Following the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

ABBV stock opened at $190.67 on Friday. 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 business has a 50-day moving average price of $184.21 and a 200 day moving average price of $187.49. The company has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. 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, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.29.

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.