Viewpoint Investment Partners Corp Takes $1.31 Million Position in AbbVie Inc. (NYSE:ABBV)

Viewpoint Investment Partners Corp bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,243 shares of the company's stock, valued at approximately $1,308,000. AbbVie accounts for 0.7% of Viewpoint Investment Partners Corp's investment portfolio, making the stock its 16th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC boosted its position 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 acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $32,000. Finally, Siemens Fonds Invest GmbH boosted its stake in AbbVie by 197.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock worth $32,000 after purchasing an additional 119,141 shares in the last quarter. 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 stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This 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.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Erste Group Bank raised AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Guggenheim boosted their price target on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Performance

NYSE:ABBV traded down $1.75 during trading hours on Friday, reaching $190.67. The company had a trading volume of 4,965,464 shares, compared to its average volume of 6,251,458. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The firm has a market cap of $336.80 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The business's 50 day moving average price is $184.21 and its 200-day moving average price is $187.52. 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 (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

About AbbVie

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.