Hennessy Advisors Inc. increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 6.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,900 shares of the company's stock after purchasing an additional 1,800 shares during the period. Hennessy Advisors Inc.'s holdings in AbbVie were worth $6,684,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Tallon Kerry Patrick acquired a new stake in AbbVie in the fourth quarter valued at approximately $309,000. Capital & Planning LLC grew its stake 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 buying an additional 105 shares during the last quarter. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% during the 4th 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 in the last quarter. Brighton Jones LLC raised its stake in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after buying an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its holdings in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock worth $1,294,000 after acquiring an additional 3,064 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 owns 53,234 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.
Analyst Ratings Changes
Several research firms have recently issued reports on ABBV. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Wells Fargo & Company upped their price target 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. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Bank of America raised their target price on AbbVie to $204.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Eight equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.
Read Our Latest Research Report on AbbVie
AbbVie Stock Performance
ABBV stock traded up $0.46 during midday trading on Wednesday, hitting $185.94. 2,143,943 shares of the stock traded hands, compared to its average volume of 6,229,927. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The stock's fifty day simple moving average is $184.64 and its 200-day simple moving average is $187.59. The firm has a market cap of $328.45 billion, a P/E ratio of 79.19, a PEG ratio of 1.27 and a beta of 0.50.
AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company posted $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.
AbbVie Profile
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Free Report)
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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