First American Trust FSB lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 88.5% during the first quarter, Holdings Channel reports. The fund owned 3,283 shares of the company’s stock after selling 25,170 shares during the period. First American Trust FSB’s holdings in AbbVie were worth $264,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABBV. Prime Capital Investment Advisors LLC acquired a new position in AbbVie during the 4th quarter valued at about $27,000. Penserra Capital Management LLC acquired a new position in AbbVie during the 4th quarter valued at about $32,000. Larson Financial Group LLC acquired a new position in AbbVie during the 4th quarter valued at about $37,000. Horrell Capital Management Inc. acquired a new position in AbbVie during the 4th quarter valued at about $41,000. Finally, Capital Financial Planning LLC acquired a new position in AbbVie during the 4th quarter valued at about $41,000. 68.33% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Brian L. Durkin sold 475 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $79.69, for a total transaction of $37,852.75. Following the completion of the sale, the vice president now directly owns 9,121 shares of the company’s stock, valued at approximately $726,852.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $80.00, for a total value of $2,000,000.00. Following the sale, the insider now directly owns 139,838 shares of the company’s stock, valued at $11,187,040. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Shares of NYSE:ABBV opened at $78.17 on Wednesday. The company has a market capitalization of $115.37 billion, a P/E ratio of 9.88, a PEG ratio of 1.58 and a beta of 1.09. AbbVie Inc has a fifty-two week low of $73.81 and a fifty-two week high of $100.23.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. AbbVie’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $1.87 EPS. Research analysts predict that AbbVie Inc will post 8.81 earnings per share for the current fiscal year.

A number of research analysts have issued reports on ABBV shares. Barclays restated a “hold” rating and set a $86.00 target price on shares of AbbVie in a research report on Thursday, February 14th. Argus downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and upped their target price for the company from $71.00 to $79.00 in a research report on Sunday, April 28th. Goldman Sachs Group started coverage on shares of AbbVie in a research report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 target price on the stock. Finally, Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $98.36.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

Read More: Hedge Funds

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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