Sendero Wealth Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,325 shares of the company's stock after acquiring an additional 2,074 shares during the quarter. Sendero Wealth Management LLC's holdings in AbbVie were worth $1,954,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in ABBV. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter valued at approximately $32,000. Finally, Siemens Fonds Invest GmbH lifted its stake in AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after acquiring an additional 119,141 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Insider Transactions at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was 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 in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.
AbbVie Stock Performance
ABBV stock traded up $2.39 during trading on Friday, reaching $189.86. 2,104,032 shares of the stock were exchanged, compared to its average volume of 6,222,144. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $335.38 billion, a P/E ratio of 79.10, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The stock has a 50 day simple moving average of $184.56 and a 200-day simple moving average of $186.80.
AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently commented on ABBV shares. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Guggenheim boosted their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $212.19.
View Our Latest Stock Report on AbbVie
About AbbVie
(
Free Report)
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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