First Affirmative Financial Network Has $994,000 Stake in AbbVie Inc. (NYSE:ABBV)

First Affirmative Financial Network decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,743 shares of the company’s stock after selling 423 shares during the period. First Affirmative Financial Network’s holdings in AbbVie were worth $994,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tallon Kerry Patrick bought a new position in AbbVie during the 4th quarter worth approximately $309,000. Capital & Planning LLC boosted its stake in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after acquiring an additional 105 shares during the last quarter. LaFleur & Godfrey LLC boosted its stake in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after acquiring an additional 3,108 shares during the last quarter. Brighton Jones LLC boosted its stake in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after acquiring an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after acquiring an additional 3,064 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Citigroup reissued a “neutral” rating and set a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $212.19.

Insider Buying and Selling

In related 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 transaction of $12,359,426.56. Following the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Stock Performance

Shares of ABBV stock opened at $189.89 on Friday. The company’s fifty day simple moving average is $184.24 and its 200-day simple moving average is $186.96. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $335.42 billion, a PE ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

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