MFA Wealth Services Purchases 105 Shares of AbbVie Inc. (NYSE:ABBV)

MFA Wealth Services grew its position in AbbVie Inc. (NYSE:ABBV) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,469 shares of the company’s stock after purchasing an additional 105 shares during the quarter. MFA Wealth Services’ holdings in AbbVie were worth $517,000 as of its most recent filing with the SEC.

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

AbbVie Stock Performance

NYSE ABBV opened at $190.67 on Friday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The company has a 50-day simple moving average of $184.21 and a 200 day simple moving average of $187.52. 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 company has a market capitalization of $336.80 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

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

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ABBV shares. Citigroup increased their target price on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday. Morgan Stanley raised their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Wells Fargo & Company raised their price objective 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. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Finally, BNP Paribas raised shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $211.29.

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.