Oak Family Advisors LLC Reduces Stake in AbbVie Inc. (NYSE:ABBV)

Oak Family Advisors LLC lowered its position in AbbVie Inc. (NYSE:ABBVFree Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,431 shares of the company’s stock after selling 278 shares during the period. Oak Family Advisors LLC’s holdings in AbbVie were worth $2,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $26,000. IFS Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $36,000. Redmont Wealth Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $37,000. Able Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter worth approximately $33,000. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Down 1.0 %

ABBV stock traded down $1.61 during mid-day trading on Tuesday, reaching $162.95. The company had a trading volume of 3,644,681 shares, compared to its average volume of 5,513,946. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market capitalization of $287.75 billion, a price-to-earnings ratio of 48.35, a price-to-earnings-growth ratio of 2.10 and a beta of 0.61. The firm has a fifty day simple moving average of $169.22 and a 200 day simple moving average of $163.00. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the company earned $2.46 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Raymond James upped their target price on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.14.

View Our Latest Stock Analysis on AbbVie

Insider Transactions at AbbVie

In other news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock valued at $67,780,003. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

Recommended Stories

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBVFree Report).

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.