Davis Investment Partners LLC Buys 2,610 Shares of AbbVie Inc. (NYSE:ABBV)

Davis Investment Partners LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 28.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,891 shares of the company's stock after buying an additional 2,610 shares during the quarter. AbbVie comprises 1.1% of Davis Investment Partners LLC's investment portfolio, making the stock its 14th largest holding. Davis Investment Partners LLC's holdings in AbbVie were worth $2,491,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Net Worth Advisory Group grew its position in AbbVie by 2.5% in the first quarter. Net Worth Advisory Group now owns 3,676 shares of the company's stock valued at $770,000 after acquiring an additional 91 shares during the period. Members Wealth LLC bought a new stake in AbbVie in the first quarter valued at $225,000. apricus wealth LLC grew its position in AbbVie by 1.9% in the first quarter. apricus wealth LLC now owns 19,980 shares of the company's stock valued at $4,186,000 after acquiring an additional 380 shares during the period. Simon Quick Advisors LLC grew its position in AbbVie by 14.1% in the first quarter. Simon Quick Advisors LLC now owns 21,705 shares of the company's stock valued at $4,548,000 after acquiring an additional 2,688 shares during the period. Finally, Capital Advisors Ltd. LLC grew its position in AbbVie by 9.7% in the first quarter. Capital Advisors Ltd. LLC now owns 4,344 shares of the company's stock valued at $910,000 after acquiring an additional 384 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Up 0.4%

Shares of NYSE:ABBV traded up $0.77 during mid-day trading on Thursday, reaching $192.27. 5,775,647 shares of the stock were exchanged, compared to its average volume of 6,238,863. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company has a market cap of $339.63 billion, a P/E ratio of 80.11, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The stock's 50 day simple moving average is $183.78 and its 200-day simple moving average is $187.32.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.31 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ABBV shares. Bank of America increased their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Citigroup upped their price target on AbbVie to $205.00 and gave the company a "hold" rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $211.29.

About AbbVie

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.