Warren Street Wealth Advisors LLC Buys 469 Shares of AbbVie Inc. (NYSE:ABBV)

Warren Street Wealth Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 15.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,513 shares of the company’s stock after purchasing an additional 469 shares during the quarter. Warren Street Wealth Advisors LLC’s holdings in AbbVie were worth $736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. Finally, Siemens Fonds Invest GmbH grew its holdings in AbbVie by 197.6% during the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the period. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ABBV shares. Guggenheim upped their target price 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. Evercore ISI upped their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Citigroup reaffirmed a “neutral” rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Morgan Stanley upped their target price 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. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s 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 sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction 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.

AbbVie Stock Performance

Shares of ABBV stock opened at $187.30 on Thursday. The firm has a market capitalization of $330.85 billion, a PE ratio of 78.04, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The firm has a fifty day simple moving average of $185.01 and a two-hundred day simple moving average of $186.65. 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 $162.16 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating 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 analyst estimates of $12.91 billion. During the same quarter in the previous year, the business posted $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie 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.