AbbVie Inc. (NYSE:ABBV) Shares Bought by Osprey Private Wealth LLC

Osprey Private Wealth LLC grew its position in AbbVie Inc. (NYSE:ABBV) by 20.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,220 shares of the company’s stock after buying an additional 6,575 shares during the period. AbbVie accounts for approximately 4.7% of Osprey Private Wealth LLC’s investment portfolio, making the stock its 6th largest holding. Osprey Private Wealth LLC’s holdings in AbbVie were worth $8,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC boosted its position in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock valued at $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Capital Research Global Investors boosted its position in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock valued at $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new position in AbbVie during the fourth quarter valued at approximately $4,459,385,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ABBV. Morgan Stanley increased their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Bank of America raised their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Price Performance

AbbVie stock opened at $192.27 on Friday. The stock’s fifty day moving average price is $183.90 and its two-hundred day moving average price is $187.43. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market cap of $339.63 billion, a PE ratio of 80.11, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last issued its earnings results 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 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 revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.31 EPS. As a group, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

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.