Curat Global LLC Invests $958,000 in AbbVie Inc. (NYSE:ABBV)

Curat Global LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,572 shares of the company's stock, valued at approximately $958,000. AbbVie makes up approximately 1.2% of Curat Global LLC's holdings, making the stock its 18th biggest position.

A number of other hedge funds also recently made changes to their positions in the business. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH boosted its stake 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 purchasing an additional 119,141 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.19.

AbbVie Price Performance

ABBV traded up $2.42 on Friday, hitting $189.89. 3,604,574 shares of the stock were exchanged, compared to its average volume of 6,231,290. The firm has a market capitalization of $335.42 billion, a price-to-earnings ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. 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 12 month low of $163.52 and a 12 month high of $218.66. The business has a 50-day moving average of $184.24 and a two-hundred day moving average of $186.96.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during 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 business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on 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 sale, 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 owned by company insiders.

About AbbVie

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.