AbbVie Inc. (NYSE:ABBV) Shares Purchased by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 2,060.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,439 shares of the company's stock after purchasing an additional 50,966 shares during the quarter. AbbVie makes up about 1.5% of Teamwork Financial Advisors LLC's investment portfolio, making the stock its 25th biggest holding. Teamwork Financial Advisors LLC's holdings in AbbVie were worth $11,197,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $4,459,385,000. GAMMA Investing LLC raised its position in AbbVie by 25,841.6% in the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. acquired a new position in AbbVie in the 4th quarter valued at approximately $1,190,951,000. FMR LLC increased its holdings in AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after purchasing an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.0%

Shares of AbbVie stock traded down $0.05 during trading on Thursday, reaching $187.29. The company's stock had a trading volume of 4,412,830 shares, compared to its average volume of 6,233,074. The company has a 50-day simple moving average of $185.01 and a two-hundred day simple moving average of $186.65. AbbVie Inc. has a 1-year low of $162.16 and a 1-year high of $218.66. The company has a market cap of $330.82 billion, a price-to-earnings ratio of 78.04, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last posted 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 firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.31 earnings per share. As a group, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup restated a "neutral" rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Bank of America upped their price target on shares of AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $210.95.

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.