Osprey Private Wealth LLC Buys 6,575 Shares of AbbVie Inc. (NYSE:ABBV)

Osprey Private Wealth LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 20.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,220 shares of the company's stock after acquiring an additional 6,575 shares during the period. AbbVie accounts for about 4.7% of Osprey Private Wealth LLC's investment portfolio, making the stock its 6th largest position. Osprey Private Wealth LLC's holdings in AbbVie were worth $8,008,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Down 0.9%

ABBV traded down $1.75 during trading on Friday, hitting $190.67. 4,965,464 shares of the company's stock were exchanged, compared to its average volume of 6,243,959. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a 50 day moving average price of $183.90 and a 200 day moving average price of $187.43. The firm has a market cap of $336.80 billion, a P/E ratio of 79.45, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction on 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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company's stock.

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.