AbbVie Inc. (NYSE:ABBV) Holdings Raised by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management raised its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 109.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,014 shares of the company's stock after acquiring an additional 1,574 shares during the quarter. Spartan Planning & Wealth Management's holdings in AbbVie were worth $631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Crestline Management LP lifted its stake in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after buying an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares in the last quarter. AXA S.A. lifted its stake in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after buying an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group lifted its stake in shares of AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock valued at $3,190,000 after buying an additional 161 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Evercore ISI raised their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, Wall Street Zen downgraded shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Up 0.8%

NYSE:ABBV traded up $1.52 during midday trading on Wednesday, reaching $188.77. The company had a trading volume of 1,416,941 shares, compared to its average volume of 6,220,880. The firm has a market capitalization of $333.44 billion, a price-to-earnings ratio of 78.65, a PEG ratio of 1.62 and a beta of 0.56. 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 Inc. has a 12-month low of $159.77 and a 12-month high of $218.66. The stock's fifty day simple moving average is $185.37 and its 200-day simple moving average is $186.65.

AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business posted $2.31 EPS. The company's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.