Transform Wealth LLC lowered its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,628 shares of the company's stock after selling 3,738 shares during the period. AbbVie comprises approximately 1.1% of Transform Wealth LLC's holdings, making the stock its 18th largest position. Transform Wealth LLC's holdings in AbbVie were worth $18,988,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC boosted its stake in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the 4th quarter worth $32,000. Finally, Siemens Fonds Invest GmbH increased its holdings in shares of AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.
Insider Activity at AbbVie
In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 completion of the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms recently commented on ABBV. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Morgan Stanley lifted their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Finally, Citigroup upped their target price on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus price target of $211.29.
Get Our Latest Report on ABBV
AbbVie Trading Down 0.1%
Shares of NYSE ABBV traded down $0.10 on Thursday, reaching $191.40. 2,714,366 shares of the company traded hands, compared to its average volume of 6,221,191. The stock has a market capitalization of $338.09 billion, a PE ratio of 79.75, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week 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 50 day moving average of $183.78 and a 200 day moving average of $187.32.
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, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 EPS. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Company Profile
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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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