Trust Co. of Toledo NA OH Sells 656 Shares of AbbVie Inc. (NYSE:ABBV)

Trust Co. of Toledo NA OH lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,920 shares of the company’s stock after selling 656 shares during the period. AbbVie accounts for approximately 1.2% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 23rd largest holding. Trust Co. of Toledo NA OH’s holdings in AbbVie were worth $7,452,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at $37,000. Clarity Asset Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at $42,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in AbbVie in the 4th quarter worth $44,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler boosted their target price on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research note on Tuesday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday, June 5th. Finally, Barclays reduced their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

AbbVie Stock Performance

Shares of ABBV opened at $171.35 on Wednesday. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock has a market cap of $302.58 billion, a price-to-earnings ratio of 50.85, a PEG ratio of 2.17 and a beta of 0.60. The business has a 50-day simple moving average of $163.58 and a two-hundred day simple moving average of $166.38.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 earnings per share. On average, analysts expect that AbbVie Inc. will post 11.26 EPS for the current year.

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.