Focus Partners Advisor Solutions LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Focus Partners Advisor Solutions LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 10.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,396 shares of the company's stock after purchasing an additional 3,471 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in AbbVie were worth $6,646,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC boosted its stake in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares during the period. Physicians Financial Services Inc. boosted its stake in AbbVie by 0.5% in the 4th 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 during the period. Finally, Sound Financial Strategies Group LLC boosted its stake in AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock worth $213,000 after purchasing an additional 60 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Down 0.5%

AbbVie stock opened at $184.75 on Wednesday. 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 Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a market capitalization of $326.34 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The stock has a 50-day moving average price of $190.24 and a 200 day moving average price of $186.71.

AbbVie (NYSE:ABBV - Get Free Report) last released 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The company's revenue was up 8.4% compared to the same quarter last year. Sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's 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 completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ABBV shares. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. StockNews.com raised AbbVie from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th. Finally, BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.

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