Simon Quick Advisors LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Simon Quick Advisors LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,705 shares of the company's stock after buying an additional 2,688 shares during the period. Simon Quick Advisors LLC's holdings in AbbVie were worth $4,548,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH raised its stake in shares of AbbVie by 197.6% during the fourth 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 hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company's stock.

AbbVie Price Performance

NYSE ABBV traded up $0.77 on Thursday, reaching $192.27. The company had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock has a market capitalization of $339.63 billion, a PE ratio of 80.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The firm's 50 day moving average price is $183.78 and its 200 day moving average price is $187.32. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Evercore ISI boosted their price target 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. Citigroup boosted their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Eight investment 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.29.

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.