AbbVie Inc. (NYSE:ABBV) Shares Purchased by Prairie Sky Financial Group LLC

Prairie Sky Financial Group LLC raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 14.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,511 shares of the company's stock after purchasing an additional 11,931 shares during the period. AbbVie accounts for approximately 11.6% of Prairie Sky Financial Group LLC's investment portfolio, making the stock its 2nd largest holding. Prairie Sky Financial Group LLC's holdings in AbbVie were worth $19,592,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ABBV. Tallon Kerry Patrick purchased a new stake in AbbVie during the fourth quarter valued at approximately $309,000. Capital & Planning LLC lifted its holdings in shares of AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after purchasing an additional 105 shares during the last quarter. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after buying an additional 3,108 shares in the last quarter. Brighton Jones LLC raised its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC raised its stake in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after buying an additional 3,064 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV traded up $0.68 during trading hours on Thursday, hitting $192.18. The stock had a trading volume of 3,511,876 shares, compared to its average volume of 6,224,427. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a 50-day moving average price of $183.78 and a 200 day moving average price of $187.32. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market capitalization of $339.47 billion, a price-to-earnings ratio of 80.08, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business 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 company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley increased their price objective 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. Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.29.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.