Mirador Capital Partners LP Has $11.47 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Mirador Capital Partners LP boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,724 shares of the company's stock after buying an additional 2,534 shares during the quarter. AbbVie makes up about 2.0% of Mirador Capital Partners LP's holdings, making the stock its 13th biggest position. Mirador Capital Partners LP's holdings in AbbVie were worth $11,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Mechanics Bank Trust Department grew its stake in shares of AbbVie by 8.6% in the 1st quarter. Mechanics Bank Trust Department now owns 12,325 shares of the company's stock valued at $2,582,000 after buying an additional 971 shares in the last quarter. Kaizen Financial Strategies grew its position in AbbVie by 5.0% in the first quarter. Kaizen Financial Strategies now owns 4,200 shares of the company's stock worth $880,000 after acquiring an additional 200 shares in the last quarter. Aletheian Wealth Advisors LLC increased its position in AbbVie by 12.5% during the first quarter. Aletheian Wealth Advisors LLC now owns 2,092 shares of the company's stock worth $438,000 after buying an additional 233 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in AbbVie by 16.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 51,158 shares of the company's stock valued at $10,719,000 after buying an additional 7,387 shares in the last quarter. Finally, Meyer Handelman Co. lifted its position in shares of AbbVie by 4.8% in the first quarter. Meyer Handelman Co. now owns 162,244 shares of the company's stock worth $33,993,000 after buying an additional 7,383 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction on Monday, March 31st. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ABBV shares. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Morgan Stanley raised their target price on shares of 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 shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Price Performance

Shares of ABBV traded up $1.33 during mid-day trading on Wednesday, reaching $188.58. The company had a trading volume of 1,592,209 shares, compared to its average volume of 6,221,624. The company's 50-day moving average is $185.37 and its 200-day moving average is $186.65. 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 company has a market capitalization of $333.11 billion, a P/E ratio of 78.58, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a twelve month low of $159.77 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $2.31 EPS. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 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.