1,029 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by True Link Financial Advisors LLC

True Link Financial Advisors LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,029 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. River Street Advisors LLC lifted its holdings in shares of AbbVie by 4.7% in the 1st quarter. River Street Advisors LLC now owns 11,332 shares of the company’s stock valued at $2,374,000 after buying an additional 513 shares during the period. Walter & Keenan Wealth Management LLC IN ADV raised its position in AbbVie by 0.9% during the first quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 27,057 shares of the company’s stock valued at $5,669,000 after acquiring an additional 241 shares in the last quarter. DecisionMap Wealth Management LLC acquired a new position in AbbVie in the first quarter valued at approximately $251,000. Trifecta Capital Advisors LLC lifted its holdings in AbbVie by 2.5% in the first quarter. Trifecta Capital Advisors LLC now owns 37,364 shares of the company’s stock valued at $7,828,000 after acquiring an additional 907 shares during the period. Finally, Silver Oak Securities Incorporated boosted its position in AbbVie by 1.1% in the 1st quarter. Silver Oak Securities Incorporated now owns 6,184 shares of the company’s stock worth $1,270,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Morgan Stanley raised 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. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $211.29.

AbbVie Price Performance

ABBV stock opened at $185.26 on Friday. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The firm has a market capitalization of $327.24 billion, a PE ratio of 78.83, a price-to-earnings-growth ratio of 1.23 and a beta of 0.50. The business has a 50 day simple moving average of $184.98 and a 200-day simple moving average of $187.60.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 return on equity of 412.03% and a net margin of 7.31%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

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.