Farther Finance Advisors LLC Acquires 11,387 Shares of AbbVie Inc. (NYSE:ABBV)

Farther Finance Advisors LLC boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 49.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,192 shares of the company's stock after purchasing an additional 11,387 shares during the quarter. Farther Finance Advisors LLC's holdings in AbbVie were worth $7,053,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tallon Kerry Patrick bought a new position in AbbVie in the fourth quarter valued at about $309,000. Capital & Planning LLC grew its holdings in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after acquiring an additional 105 shares during the period. LaFleur & Godfrey LLC lifted its stake in AbbVie by 4.1% in the fourth 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 during the period. Brighton Jones LLC boosted its stake in AbbVie by 17.4% during the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Finally, Revolve Wealth Partners LLC grew its stake in shares of AbbVie by 72.7% in the 4th 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 period. Institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.31 on Friday, hitting $192.73. 660,394 shares of the stock were exchanged, compared to its average volume of 6,216,962. The firm's 50 day moving average is $183.90 and its two-hundred day moving average is $187.43. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The firm has a market capitalization of $340.43 billion, a PE ratio of 80.33, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm 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% on a year-over-year basis. During the same quarter last year, the company earned $2.31 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share 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 value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $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 is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Guggenheim upped 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, Bank of America lifted their price target on AbbVie to $204.00 and gave the company a "hold" rating in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.29.

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.