AbbVie Inc. (NYSE:ABBV) Stock Position Boosted by Accurate Wealth Management LLC

Accurate Wealth Management LLC increased its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 27.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,066 shares of the company's stock after buying an additional 3,653 shares during the period. Accurate Wealth Management LLC's holdings in AbbVie were worth $3,576,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ABBV. Norges Bank purchased a new stake in AbbVie in the fourth quarter valued at approximately $4,459,385,000. GAMMA Investing LLC grew its holdings in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the period. Raymond James Financial Inc. purchased a new stake in AbbVie in the fourth quarter valued at approximately $1,190,951,000. FMR LLC grew its stake in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after buying an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ABBV. Bank of America boosted their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective for the company. Finally, Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. 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 stock. Based on data from MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Performance

Shares of NYSE:ABBV traded down $1.75 on Friday, reaching $190.67. 4,965,464 shares of the company's stock were exchanged, compared to its average volume of 6,243,959. The firm has a market capitalization of $336.80 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The business's 50-day moving average is $183.90 and its two-hundred day moving average is $187.43. 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 earnings results 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 company had revenue of $13.34 billion for 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 revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.