AbbVie Inc. (NYSE:ABBV) Holdings Lifted by MV Capital Management Inc.

MV Capital Management Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,023 shares of the company's stock after purchasing an additional 4,339 shares during the period. AbbVie comprises approximately 6.1% of MV Capital Management Inc.'s investment portfolio, making the stock its 4th biggest holding. MV Capital Management Inc.'s holdings in AbbVie were worth $56,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new position in shares of AbbVie in the fourth quarter worth about $309,000. Capital & Planning LLC raised its position in shares of AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after acquiring an additional 105 shares during the period. LaFleur & Godfrey LLC raised its position in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares during the period. Brighton Jones LLC raised its position in shares of AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares during the period. Finally, Revolve Wealth Partners LLC raised its position in shares of 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 during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's 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 directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ABBV. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup upped their price objective on shares of AbbVie to $205.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Trading Up 0.4%

Shares of ABBV stock traded up $0.77 during trading hours on Thursday, hitting $192.27. The company had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. The company's fifty day moving average is $183.90 and its 200 day moving average is $187.43. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The stock has a market capitalization of $339.63 billion, a PE ratio of 80.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm 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 business posted $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.