1900 Wealth Management LLC Buys 184 Shares of AbbVie Inc. (NYSE:ABBV)

1900 Wealth Management LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 5.2% in the first quarter, Holdings Channel.com reports. The fund owned 3,739 shares of the company’s stock after purchasing an additional 184 shares during the period. 1900 Wealth Management LLC’s holdings in AbbVie were worth $783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Crestline Management LP boosted its stake in AbbVie by 438.4% during 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 period. Dimensional Fund Advisors LP boosted its stake in AbbVie by 1.2% during 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 buying an additional 108,993 shares during the period. Quantbot Technologies LP boosted its stake in AbbVie by 35.8% during the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after buying an additional 276 shares during the period. AXA S.A. boosted its stake in AbbVie by 14.8% during the fourth quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after buying an additional 125,568 shares during the period. Finally, Keystone Financial Group boosted its stake in AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after buying an additional 161 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated 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 in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ABBV shares. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Bank of America lifted their price objective on AbbVie to $204.00 and gave the company a “hold” rating in a research note on Monday, June 9th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Stock Down 0.9%

ABBV opened at $190.67 on Monday. The company has a market cap of $336.80 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. The business’s 50-day moving average price is $184.21 and its 200-day moving average price is $187.55. 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 Inc. has a 12 month low of $163.52 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. On average, 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.