Chemistry Wealth Management LLC Buys 454 Shares of AbbVie Inc. (NYSE:ABBV)

Chemistry Wealth Management LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 5.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,370 shares of the company’s stock after buying an additional 454 shares during the quarter. Chemistry Wealth Management LLC’s holdings in AbbVie were worth $1,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in ABBV. EnRich Financial Partners LLC grew its position 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 purchasing an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $36,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $189.89 on Friday. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. 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 firm has a market capitalization of $335.42 billion, a P/E ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. The stock has a 50 day moving average price of $184.24 and a 200 day moving average price of $186.96.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 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 analyst estimates of $12.91 billion. During the same period last year, the company earned $2.31 EPS. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Bank of America raised their price target on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Erste Group Bank upgraded AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, Citigroup restated a “neutral” rating and set a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.19.

Insider Buying and Selling at AbbVie

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 sale, the executive vice president now directly owns 53,234 shares of the company’s stock, 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 SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.