AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Verity & Verity LLC

Verity & Verity LLC grew its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 173,552 shares of the company's stock after buying an additional 1,700 shares during the quarter. AbbVie accounts for approximately 3.2% of Verity & Verity LLC's portfolio, making the stock its 2nd biggest position. Verity & Verity LLC's holdings in AbbVie were worth $36,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC purchased a new position in shares of AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Siemens Fonds Invest GmbH boosted its position 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 during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Price Performance

ABBV traded down $1.75 on Friday, hitting $190.67. 4,965,464 shares of the company were exchanged, compared to its average volume of 6,243,959. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business's fifty day moving average is $183.90 and its 200 day moving average is $187.43. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Analysts Set New Price Targets

ABBV has been the topic of several research analyst reports. Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America increased their price objective on AbbVie to $204.00 and gave the company a "hold" rating in a report on Monday. Erste Group Bank raised AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Citigroup increased their price objective on AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.