City Holding Co. Has $8.56 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

City Holding Co. increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,830 shares of the company’s stock after acquiring an additional 733 shares during the quarter. AbbVie comprises approximately 1.2% of City Holding Co.’s holdings, making the stock its 19th largest holding. City Holding Co.’s holdings in AbbVie were worth $8,555,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new stake in AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the 4th quarter valued at $32,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV stock opened at $189.89 on Monday. The company has a 50 day moving average price of $184.24 and a 200 day moving average price of $187.19. The stock 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 Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. 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 (NYSE:ABBV) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 EPS. AbbVie’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ABBV shares. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Bank of America raised their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $212.19.

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.