Ferguson Wellman Capital Management Inc. Has $133.95 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Ferguson Wellman Capital Management Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 639,293 shares of the company's stock after purchasing an additional 11,139 shares during the period. AbbVie comprises 2.6% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 7th largest holding. Ferguson Wellman Capital Management Inc.'s holdings in AbbVie were worth $133,945,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its holdings in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC increased its stake in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. increased its stake in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC increased its stake in shares of AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after purchasing an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, 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 SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

AbbVie Trading Up 0.4%

ABBV traded up $0.77 on Thursday, reaching $192.27. 5,775,647 shares of the company traded hands, compared to its average volume of 6,238,863. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The firm has a fifty day simple moving average of $183.78 and a two-hundred day simple moving average of $187.32. The company has a market cap of $339.63 billion, a P/E ratio of 80.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. 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 announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating 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 company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the business posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Eight research 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus 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.