AbbVie Inc. (NYSE:ABBV) Shares Bought by Simplicity Wealth LLC

Simplicity Wealth LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 266.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,043 shares of the company's stock after buying an additional 14,576 shares during the period. Simplicity Wealth LLC's holdings in AbbVie were worth $4,199,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EnRich Financial Partners LLC raised its holdings in shares of AbbVie by 196.4% during the fourth 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 purchased a new position in shares of AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after acquiring an additional 119,141 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

AbbVie Price Performance

ABBV traded up $0.15 on Tuesday, hitting $189.31. 4,086,840 shares of the company's stock were exchanged, compared to its average volume of 6,226,249. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The stock has a market cap of $334.40 billion, a price-to-earnings ratio of 78.88, a P/E/G ratio of 1.62 and a beta of 0.50. The firm has a 50-day moving average price of $183.92 and a 200-day moving average price of $187.28. 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 released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company 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. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ABBV shares. Citigroup reiterated a "neutral" rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price for the company. Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI lifted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Eight 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.29.

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.