Ibex Wealth Advisors Buys 1,272 Shares of AbbVie Inc. (NYSE:ABBV)

Ibex Wealth Advisors lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 2.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 56,816 shares of the company’s stock after buying an additional 1,272 shares during the period. AbbVie makes up about 1.6% of Ibex Wealth Advisors’ investment portfolio, making the stock its 13th largest position. Ibex Wealth Advisors’ holdings in AbbVie were worth $11,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in AbbVie during the 4th quarter valued at approximately $4,459,385,000. GAMMA Investing LLC boosted its stake in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after buying an additional 10,195,284 shares during the period. Raymond James Financial Inc. bought a new stake in shares of AbbVie during the fourth quarter worth $1,190,951,000. FMR LLC lifted its position in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after purchasing an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $189.13 on Tuesday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The business has a fifty day simple moving average of $183.92 and a 200 day simple moving average of $187.28. 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 cap of $334.09 billion, a price-to-earnings ratio of 78.81, a P/E/G ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last announced 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 company 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 company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $2.31 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

ABBV has been the subject of several recent research reports. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Bank of America boosted their price target on AbbVie to $204.00 and gave the stock a “hold” rating in a research note on Monday. Morgan Stanley upped their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Finally, Citigroup reaffirmed a “neutral” rating and set a $205.00 target price (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $211.29.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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.