Daymark Wealth Partners LLC Buys 1,145 Shares of AbbVie Inc. (NYSE:ABBV)

Daymark Wealth Partners LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,538 shares of the company’s stock after acquiring an additional 1,145 shares during the quarter. Daymark Wealth Partners LLC’s holdings in AbbVie were worth $16,665,000 as of its most recent SEC filing.

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

AbbVie Stock Up 1.3%

ABBV opened at $189.89 on Monday. The stock’s fifty day simple moving average is $184.24 and its 200 day simple moving average is $187.19. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The stock has a market cap of $335.42 billion, a PE ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. 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 released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating 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 net margin of 7.59% and a return on equity of 296.28%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. As a group, research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Citigroup reiterated a “neutral” rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. The Goldman Sachs Group restated a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Guggenheim raised their price target 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 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 company has a consensus rating of “Moderate Buy” and an average price target of $212.19.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

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.