Moss Adams Wealth Advisors LLC Buys 1,531 Shares of AbbVie Inc. (NYSE:ABBV)

Moss Adams Wealth Advisors LLC increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 32.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,237 shares of the company's stock after purchasing an additional 1,531 shares during the quarter. Moss Adams Wealth Advisors LLC's holdings in AbbVie were worth $1,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ABBV. Crestline Management LP raised its holdings in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP increased its holdings in shares of AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. increased its holdings in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Keystone Financial Group increased its holdings in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after purchasing an additional 161 shares during the period. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

AbbVie Stock Performance

Shares of ABBV traded up $0.77 on Thursday, reaching $192.27. 5,775,647 shares of the company's stock traded hands, compared to its average volume of 6,232,811. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $339.63 billion, a PE ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50. The stock's 50 day simple moving average is $183.78 and its two-hundred day simple moving average is $187.32. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. Guggenheim raised their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Citigroup raised their target price on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a report on Wednesday. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley increased their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.