AbbVie Inc. (NYSE:ABBV) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 114.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,507 shares of the company's stock after acquiring an additional 14,174 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in AbbVie were worth $5,506,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Blue Bell Private Wealth Management LLC increased its position in shares of AbbVie by 30.4% during 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 last quarter. Steel Grove Capital Advisors LLC increased its position in shares of 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 purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% during 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 last quarter. Physicians Financial Services Inc. increased its position in shares of AbbVie by 0.5% during 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 last quarter. Finally, Connecticut Wealth Management LLC increased 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 worth $660,000 after purchasing an additional 57 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 0.1%

Shares of AbbVie stock traded down $0.22 on Thursday, reaching $185.26. 3,572,665 shares of the company were exchanged, compared to its average volume of 6,243,189. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a market cap of $327.24 billion, a P/E ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. 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 50 day moving average price is $184.75 and its 200-day moving average price is $187.58.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ABBV. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Morgan Stanley raised their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Citigroup lifted their target price on AbbVie to $205.00 and gave the company a "hold" rating in a research report on Wednesday, June 11th. Finally, Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company'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 completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale 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.

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.