LifeWealth Investments LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,792 shares of the company's stock, valued at approximately $375,000.
Several other hedge funds and other institutional investors have also bought and sold shares of ABBV. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after acquiring an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the fourth quarter valued at $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH boosted its position in shares of AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Insiders Place Their Bets
In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company's stock.
AbbVie Price Performance
Shares of NYSE ABBV opened at $185.41 on Wednesday. The company has a market capitalization of $327.51 billion, a PE ratio of 78.90, a PEG ratio of 1.27 and a beta of 0.50. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock's 50 day moving average price is $184.64 and its 200-day moving average price is $187.59. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The business's revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.
Analyst Upgrades and Downgrades
ABBV has been the subject of a number of research analyst reports. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Morgan Stanley boosted their price objective on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Citigroup upped their target price on AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, June 11th. Bank of America lifted their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Eight investment 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 stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.
Check Out Our Latest Research Report on ABBV
AbbVie Company 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.
See Also
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