AbbVie Inc. (NYSE:ABBV) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 3.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,735 shares of the company's stock after purchasing an additional 1,433 shares during the period. Ritholtz Wealth Management's holdings in AbbVie were worth $8,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Dohj LLC acquired a new position in shares of AbbVie in the first quarter valued at approximately $669,000. MFA Wealth Services grew its holdings in AbbVie by 4.4% during the 1st quarter. MFA Wealth Services now owns 2,469 shares of the company's stock worth $517,000 after acquiring an additional 105 shares in the last quarter. Grant Private Wealth Management Inc grew its holdings in AbbVie by 40.5% during the 1st quarter. Grant Private Wealth Management Inc now owns 2,380 shares of the company's stock worth $499,000 after acquiring an additional 686 shares in the last quarter. American Institute for Advanced Investment Management LLP grew its holdings in AbbVie by 2.8% during the 1st quarter. American Institute for Advanced Investment Management LLP now owns 7,944 shares of the company's stock worth $1,664,000 after acquiring an additional 215 shares in the last quarter. Finally, Everpar Advisors LLC grew its holdings in AbbVie by 3.5% during the 1st quarter. Everpar Advisors LLC now owns 4,772 shares of the company's stock worth $1,000,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Performance

ABBV stock traded down $1.75 on Friday, hitting $190.67. The company's stock had a trading volume of 4,965,464 shares, compared to its average volume of 6,251,458. The firm has a 50 day moving average of $184.21 and a two-hundred day moving average of $187.52. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The stock has a market cap of $336.80 billion, a price-to-earnings ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.31 EPS. Equities analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction 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 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ABBV shares. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight equities research 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 stock. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

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.