Opinicus Capital Inc. Has $1.98 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Opinicus Capital Inc. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,469 shares of the company’s stock after purchasing an additional 252 shares during the period. AbbVie accounts for approximately 1.8% of Opinicus Capital Inc.’s portfolio, making the stock its 13th biggest position. Opinicus Capital Inc.’s holdings in AbbVie were worth $1,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. EnRich Financial Partners LLC increased its stake in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie in the fourth quarter worth $31,000. Prudent Man Investment Management Inc. acquired a new position in AbbVie during the fourth quarter worth $32,000. Finally, Pinney & Scofield Inc. bought a new position in AbbVie during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ABBV shares. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Citigroup raised their price objective on AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Eight equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

Shares of ABBV stock opened at $192.27 on Friday. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The company has a market capitalization of $339.63 billion, a P/E ratio of 80.11, a P/E/G ratio of 1.62 and a beta of 0.50. The stock has a 50 day moving average of $183.90 and a two-hundred day moving average of $187.43. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last issued its 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the business earned $2.31 earnings per share. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current 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.