Wealth Alliance Advisory Group LLC Boosts Position in AbbVie Inc. (NYSE:ABBV)

Wealth Alliance Advisory Group LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,114 shares of the company’s stock after buying an additional 838 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in AbbVie were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crestline Management LP lifted its stake in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company’s stock valued at $6,275,000 after buying an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP increased its holdings in shares of AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after purchasing an additional 276 shares during the period. AXA S.A. increased its holdings in shares of AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Keystone Financial Group increased its holdings in shares of AbbVie by 0.9% in the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after purchasing an additional 161 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ABBV. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Wall Street Zen lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Finally, Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Stock Up 0.1%

AbbVie stock opened at $187.18 on Wednesday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market capitalization of $330.63 billion, a price-to-earnings ratio of 77.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a fifty-two week low of $159.77 and a fifty-two week high of $218.66. The stock’s fifty day moving average is $185.37 and its two-hundred day moving average is $186.65.

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

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.