AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Good Life Advisors LLC

Good Life Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,416 shares of the company's stock after buying an additional 2,319 shares during the quarter. AbbVie comprises about 0.8% of Good Life Advisors LLC's holdings, making the stock its 26th largest position. Good Life Advisors LLC's holdings in AbbVie were worth $11,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its holdings in shares of AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC raised its position in AbbVie by 1.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after buying an additional 52 shares during the last quarter. Peninsula Wealth LLC boosted its holdings in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. increased its holdings in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC lifted its position in shares of AbbVie by 1.6% during the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Wells Fargo & Company boosted their price objective 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. Morgan Stanley raised 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. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Stock Performance

AbbVie stock traded down $5.45 during mid-day trading on Tuesday, reaching $185.41. The company's stock had a trading volume of 4,732,710 shares, compared to its average volume of 6,245,958. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The business has a 50 day moving average price of $184.53 and a 200-day moving average price of $187.61. The firm has a market cap of $327.51 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the business posted $2.31 EPS. The company's quarterly revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was 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 trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is owned by company insiders.

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.