MFA Wealth Services Purchases 105 Shares of AbbVie Inc. (NYSE:ABBV)

MFA Wealth Services increased its position in AbbVie Inc. (NYSE:ABBV) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,469 shares of the company’s stock after acquiring an additional 105 shares during the quarter. MFA Wealth Services’ holdings in AbbVie were worth $517,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Grant Private Wealth Management Inc raised its position in shares of AbbVie by 40.5% during the 1st quarter. Grant Private Wealth Management Inc now owns 2,380 shares of the company’s stock valued at $499,000 after buying an additional 686 shares in the last quarter. American Institute for Advanced Investment Management LLP increased its stake in AbbVie by 2.8% in the first quarter. American Institute for Advanced Investment Management LLP now owns 7,944 shares of the company’s stock valued at $1,664,000 after acquiring an additional 215 shares during the last quarter. Everpar Advisors LLC increased its stake in AbbVie by 3.5% in the first quarter. Everpar Advisors LLC now owns 4,772 shares of the company’s stock valued at $1,000,000 after acquiring an additional 163 shares during the last quarter. Hoey Investments Inc. increased its stake in AbbVie by 3.8% in the first quarter. Hoey Investments Inc. now owns 4,070 shares of the company’s stock valued at $853,000 after acquiring an additional 150 shares during the last quarter. Finally, Opal Wealth Advisors LLC increased its stake in AbbVie by 1.6% in the first quarter. Opal Wealth Advisors LLC now owns 5,321 shares of the company’s stock valued at $1,115,000 after acquiring an additional 86 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

AbbVie stock opened at $190.67 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The firm has a 50-day moving average of $184.21 and a 200-day moving average of $187.52. The firm 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. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated 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 $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ABBV shares. BNP Paribas raised AbbVie to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company increased their target price on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Eight investment 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 company. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $211.29.

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.