AbbVie Inc. (NYSE:ABBV) Shares Acquired by Horizon Wealth Management LLC

Horizon Wealth Management LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,742 shares of the company’s stock after purchasing an additional 117 shares during the period. Horizon Wealth Management LLC’s holdings in AbbVie were worth $784,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABBV. Norges Bank acquired a new position in AbbVie during the fourth quarter worth $4,459,385,000. GAMMA Investing LLC grew its holdings in AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company’s stock worth $2,144,382,000 after acquiring an additional 10,195,284 shares during the period. Raymond James Financial Inc. acquired a new position in AbbVie during the fourth quarter worth $1,190,951,000. FMR LLC grew its holdings in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 1.3%

Shares of NYSE:ABBV opened at $189.89 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock’s fifty day simple moving average is $184.24 and its 200-day simple moving average is $186.96. The company 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.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the business earned $2.31 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Evercore ISI boosted their target price on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Finally, Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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 that occurred on Monday, March 31st. The shares were 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 approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

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.