New Century Financial Group LLC Sells 5,313 Shares of AbbVie Inc. (NYSE:ABBV)

New Century Financial Group LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 74.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,860 shares of the company’s stock after selling 5,313 shares during the quarter. New Century Financial Group LLC’s holdings in AbbVie were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick bought a new position in AbbVie during the 4th quarter worth approximately $309,000. Capital & Planning LLC raised its holdings in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after purchasing an additional 105 shares during the last quarter. LaFleur & Godfrey LLC raised its holdings in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after purchasing an additional 3,108 shares during the last quarter. Brighton Jones LLC raised its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC grew its position in shares of AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after buying an additional 3,064 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year 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. The firm has a market cap of $336.80 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. The company has a fifty day moving average price of $184.21 and a 200-day moving average price of $187.49.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (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 firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Bank of America raised their price objective on shares of AbbVie to $204.00 and gave the stock a “hold” rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company raised their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. 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. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $211.29.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Company 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.