AbbVie Inc. (NYSE:ABBV) Shares Acquired by Marotta Asset Management

Marotta Asset Management lifted its position in AbbVie Inc. (NYSE:ABBV) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,780 shares of the company’s stock after buying an additional 72 shares during the quarter. Marotta Asset Management’s holdings in AbbVie were worth $352,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new stake in shares of AbbVie in the fourth quarter valued at $309,000. Capital & Planning LLC raised its position in AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after purchasing an additional 105 shares in the last quarter. LaFleur & Godfrey LLC boosted its stake in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after buying an additional 3,108 shares during the period. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after buying an additional 3,401 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of AbbVie during the fourth quarter worth about $127,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 1.5%

Shares of ABBV stock opened at $182.98 on Thursday. The company has a market capitalization of $323.22 billion, a P/E ratio of 76.24, a price-to-earnings-growth 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. The business’s 50 day moving average is $186.76 and its two-hundred day moving average is $186.09. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the firm posted $2.31 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, April 28th. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight 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 currently has an average rating of “Moderate Buy” and an average price target of $210.95.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were 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 owns 53,234 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.08% of the company’s stock.

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.