PUREfi Wealth LLC Acquires 1,995 Shares of AbbVie Inc. (NYSE:ABBV)

PUREfi Wealth LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 67.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,951 shares of the company's stock after purchasing an additional 1,995 shares during the quarter. AbbVie accounts for 1.0% of PUREfi Wealth LLC's holdings, making the stock its 17th largest position. PUREfi Wealth LLC's holdings in AbbVie were worth $1,037,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ABBV. Crestline Management LP raised its position in AbbVie by 438.4% during the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP raised its position in AbbVie by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after purchasing an additional 108,993 shares in the last quarter. Quantbot Technologies LP raised its position in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after purchasing an additional 276 shares in the last quarter. AXA S.A. grew its stake in shares of AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group grew its stake in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after buying an additional 161 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABBV shares. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. BNP Paribas raised shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Bank of America boosted their target price on shares of 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $211.29.

AbbVie Price Performance

ABBV stock opened at $185.41 on Wednesday. The firm has a market cap of $327.51 billion, a price-to-earnings 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. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. The company's fifty day simple moving average is $184.64 and its 200 day simple moving average is $187.59.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated 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 transaction, the executive vice president now 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company 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.

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