AbbVie Inc. (NYSE:ABBV) Shares Bought by Lbmc Investment Advisors LLC

Lbmc Investment Advisors LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.1% in the first quarter, Holdings Channel.com reports. The fund owned 3,072 shares of the company’s stock after purchasing an additional 176 shares during the period. Lbmc Investment Advisors LLC’s holdings in AbbVie were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ABBV. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. 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 purchased a new position in shares of AbbVie during the 4th quarter worth approximately $31,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the 4th quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH increased its stake in shares of AbbVie by 197.6% during 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. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

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 shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $185.53 on Monday. 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 firm has a market capitalization of $327.72 billion, a price-to-earnings ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56. The firm’s fifty day simple moving average is $185.97 and its 200 day simple moving average is $186.49. AbbVie Inc. has a twelve month low of $158.83 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The business 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%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Bank of America lifted their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, Guggenheim lifted their target price 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. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

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.