SOA Wealth Advisors LLC. Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

SOA Wealth Advisors LLC. lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 1,481.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,230 shares of the company's stock after purchasing an additional 13,330 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in AbbVie were worth $2,981,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP lifted its position in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. raised its stake in shares of AbbVie by 14.8% during the 4th 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 in the last quarter. Finally, Keystone Financial Group raised its stake in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after buying an additional 161 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Citigroup reissued a "neutral" rating and set a $205.00 target price (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Finally, BNP Paribas raised AbbVie to a "hold" rating in a research note 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's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.19.

AbbVie Price Performance

NYSE:ABBV traded up $2.42 during trading hours on Friday, reaching $189.89. 3,604,574 shares of the company traded hands, compared to its average volume of 6,241,127. The firm's 50-day moving average is $184.24 and its 200-day moving average is $187.09. The stock has a market cap of $335.42 billion, a P/E ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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 firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

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.