AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Adero Partners LLC

Adero Partners LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 14.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,182 shares of the company’s stock after purchasing an additional 413 shares during the quarter. Adero Partners LLC’s holdings in AbbVie were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Sowell Financial Services LLC lifted its position in shares of AbbVie by 8.5% in the first quarter. Sowell Financial Services LLC now owns 63,551 shares of the company’s stock worth $13,315,000 after purchasing an additional 4,979 shares in the last quarter. M.E. Allison & CO. Inc. bought a new position in AbbVie during the first quarter valued at approximately $293,000. Northstar Group Inc. raised its position in AbbVie by 0.7% during the first quarter. Northstar Group Inc. now owns 8,512 shares of the company’s stock valued at $1,783,000 after acquiring an additional 58 shares in the last quarter. Mission Wealth Management LP raised its position in AbbVie by 0.6% during the first quarter. Mission Wealth Management LP now owns 48,019 shares of the company’s stock valued at $10,061,000 after acquiring an additional 266 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its position in AbbVie by 32.4% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 5,618 shares of the company’s stock valued at $1,177,000 after acquiring an additional 1,376 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.9%

Shares of ABBV stock opened at $190.67 on Monday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. 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’s fifty day simple moving average is $184.21 and its 200 day simple moving average is $187.55. The firm has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The business’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ABBV shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Morgan Stanley raised their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Finally, Citigroup raised their price objective on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.