AbbVie Inc. (NYSE:ABBV) Shares Bought by Worth Asset Management LLC

Worth Asset Management LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 433.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,089 shares of the company's stock after purchasing an additional 6,573 shares during the period. AbbVie comprises 0.9% of Worth Asset Management LLC's portfolio, making the stock its 26th largest holding. Worth Asset Management LLC's holdings in AbbVie were worth $1,695,000 at the end of the most recent reporting period.

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

AbbVie Stock Performance

NYSE:ABBV traded up $0.19 during midday trading on Tuesday, hitting $187.18. The company's stock had a trading volume of 5,334,896 shares, compared to its average volume of 6,232,604. The firm's 50 day moving average is $185.68 and its 200-day moving average is $186.64. The firm has a market cap of $330.63 billion, a P/E ratio of 77.99, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.31 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ABBV shares. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Finally, Raymond James restated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

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.