TruWealth Advisors LLC Trims Stock Holdings in AbbVie Inc. (NYSE:ABBV)

TruWealth Advisors LLC lowered its stake in AbbVie Inc. (NYSE:ABBV) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,767 shares of the company’s stock after selling 22,874 shares during the quarter. AbbVie comprises 1.7% of TruWealth Advisors LLC’s portfolio, making the stock its 16th biggest holding. TruWealth Advisors LLC’s holdings in AbbVie were worth $28,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Crestline Management LP lifted its position in shares of AbbVie by 438.4% in the fourth 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP lifted its holdings in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. boosted its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Keystone Financial Group grew its holdings in AbbVie by 0.9% during the 4th 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 in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Up 0.1%

Shares of NYSE ABBV opened at $187.18 on Wednesday. AbbVie Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $330.63 billion, a price-to-earnings ratio of 77.99, a PEG ratio of 1.62 and a beta of 0.56. The business’s 50 day moving average price is $185.37 and its 200-day moving average price is $186.65.

AbbVie (NYSE:ABBV) last released its 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. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Wells Fargo & Company increased 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. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

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.