NBC Securities Inc. Raises Position in AbbVie Inc. (NYSE:ABBV)

NBC Securities Inc. increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 102,233.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,420 shares of the company's stock after purchasing an additional 18,402 shares during the quarter. NBC Securities Inc.'s holdings in AbbVie were worth $3,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Worth Asset Management LLC raised its holdings in AbbVie by 433.6% in the 1st quarter. Worth Asset Management LLC now owns 8,089 shares of the company's stock worth $1,695,000 after acquiring an additional 6,573 shares during the last quarter. Fiduciary Alliance LLC raised its holdings in AbbVie by 6.8% in the 1st quarter. Fiduciary Alliance LLC now owns 16,926 shares of the company's stock worth $3,546,000 after purchasing an additional 1,079 shares during the period. Baker Tilly Wealth Management LLC raised its holdings in AbbVie by 22.6% during the first quarter. Baker Tilly Wealth Management LLC now owns 4,771 shares of the company's stock valued at $1,000,000 after acquiring an additional 881 shares during the period. Wright Investors Service Inc. raised its holdings in AbbVie by 11.1% during the first quarter. Wright Investors Service Inc. now owns 38,306 shares of the company's stock valued at $8,026,000 after acquiring an additional 3,826 shares during the period. Finally, Czech National Bank increased its holdings in shares of AbbVie by 5.8% in the first quarter. Czech National Bank now owns 405,475 shares of the company's stock worth $84,955,000 after purchasing an additional 22,324 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of ABBV stock traded up $0.53 during mid-day trading on Thursday, hitting $187.87. 1,038,932 shares of the stock were exchanged, compared to its average volume of 6,219,910. The firm has a fifty day moving average of $185.01 and a 200 day moving average of $186.65. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $162.16 and a 52-week high of $218.66. The company has a market cap of $331.85 billion, a PE ratio of 78.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The company's revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on ABBV shares. Evercore ISI lifted their price target on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Bank of America boosted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.95.

Insider Buying and Selling at AbbVie

In related 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 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 document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

About AbbVie

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.