Abacus FCF Advisors LLC Has $22.66 Million Stake in AbbVie Inc. (NYSE:ABBV)

Abacus FCF Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,132 shares of the company's stock after purchasing an additional 2,959 shares during the quarter. AbbVie comprises about 3.6% of Abacus FCF Advisors LLC's portfolio, making the stock its 2nd largest holding. Abacus FCF Advisors LLC's holdings in AbbVie were worth $22,656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH lifted its stake in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several recent research reports. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Guggenheim increased their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Evercore ISI raised their target price on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Price Performance

Shares of AbbVie stock traded up $0.77 during midday trading on Thursday, reaching $192.27. The company had a trading volume of 5,040,094 shares, compared to its average volume of 6,231,986. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The stock has a fifty day simple moving average of $183.78 and a 200 day simple moving average of $187.32. 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 company has a market capitalization of $339.63 billion, a price-to-earnings ratio of 80.11, a price-to-earnings-growth 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. 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by corporate insiders.

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.