Integrated Advisors Network LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Integrated Advisors Network LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 25.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,458 shares of the company's stock after buying an additional 10,856 shares during the quarter. Integrated Advisors Network LLC's holdings in AbbVie were worth $11,201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick acquired a new stake in AbbVie during the fourth quarter valued at approximately $309,000. Capital & Planning LLC grew its position 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 in the last quarter. LaFleur & Godfrey LLC lifted its stake in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of AbbVie by 17.4% during the fourth 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 period. Finally, Revolve Wealth Partners LLC grew its holdings 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 valued at $1,294,000 after acquiring an additional 3,064 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a report on Monday. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Morgan Stanley boosted their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Stock Performance

AbbVie stock traded up $0.21 during mid-day trading on Thursday, reaching $191.71. The company's stock had a trading volume of 1,317,387 shares, compared to its average volume of 6,219,486. The firm's fifty day moving average price is $183.78 and its two-hundred day moving average price is $187.32. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The company has a market capitalization of $338.64 billion, a P/E ratio of 79.88, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business earned $2.31 earnings per share. AbbVie's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.