Retireful LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Retireful LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,875 shares of the company's stock, valued at approximately $385,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in AbbVie by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC increased its holdings in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the period. Capital Research Global Investors increased its holdings in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Finally, Norges Bank bought a new stake in AbbVie during the 4th quarter worth approximately $4,459,385,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.0%

AbbVie stock traded down $0.05 during trading hours on Thursday, reaching $187.29. The stock had a trading volume of 4,412,830 shares, compared to its average volume of 6,237,604. The stock has a market cap of $330.82 billion, a PE ratio of 78.04, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a fifty day simple moving average of $185.01 and a 200-day simple moving average of $186.65.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts' expectations of $12.91 billion. During the same period last year, the company posted $2.31 EPS. The company's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ABBV. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley increased their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $210.95.

AbbVie 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.