AbbVie Inc. (NYSE:ABBV) Shares Purchased by Horizon Wealth Management LLC

Horizon Wealth Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,742 shares of the company’s stock after purchasing an additional 117 shares during the quarter. Horizon Wealth Management LLC’s holdings in AbbVie were worth $784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blue Bell Private Wealth Management LLC grew its position in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC grew its position in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC grew its position in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after acquiring an additional 54 shares in the last quarter. Physicians Financial Services Inc. grew its position in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after acquiring an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC grew its position in AbbVie by 1.6% in the 4th quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after acquiring an additional 57 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ABBV shares. 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 target price on shares of AbbVie in a research report on Tuesday, April 8th. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. Cantor Fitzgerald started coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Finally, Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Eight investment 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.19.

AbbVie Price Performance

ABBV stock opened at $189.89 on Friday. The business has a 50 day moving average price of $184.24 and a 200 day moving average price of $186.96. The stock has a market cap of $335.42 billion, a price-to-earnings ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

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

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on 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 owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.