Exeter Financial LLC Acquires 137 Shares of AbbVie Inc. (NYSE:ABBV)

Exeter Financial LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,801 shares of the company’s stock after acquiring an additional 137 shares during the period. AbbVie makes up 1.9% of Exeter Financial LLC’s investment portfolio, making the stock its 19th largest holding. Exeter Financial LLC’s holdings in AbbVie were worth $4,149,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Quent Capital LLC raised its holdings in AbbVie by 5.7% in the first quarter. Quent Capital LLC now owns 9,395 shares of the company’s stock worth $1,968,000 after buying an additional 507 shares during the last quarter. Sage Capital Advisors llc raised its holdings in AbbVie by 0.9% in the first quarter. Sage Capital Advisors llc now owns 22,813 shares of the company’s stock worth $4,780,000 after buying an additional 197 shares during the last quarter. Moody National Bank Trust Division raised its holdings in AbbVie by 2.6% in the first quarter. Moody National Bank Trust Division now owns 23,103 shares of the company’s stock worth $4,841,000 after buying an additional 586 shares during the last quarter. Agate Pass Investment Management LLC raised its holdings in AbbVie by 4.8% in the first quarter. Agate Pass Investment Management LLC now owns 68,086 shares of the company’s stock worth $14,265,000 after buying an additional 3,130 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in AbbVie by 88.3% in the first quarter. Versant Capital Management Inc now owns 5,151 shares of the company’s stock worth $1,079,000 after buying an additional 2,416 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several recent analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price for the company. Finally, Citigroup reissued a “neutral” rating and set a $205.00 price objective (down 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, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

AbbVie Trading Up 1.3%

Shares of ABBV stock opened at $185.40 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The firm has a fifty day moving average price of $186.28 and a 200-day moving average price of $186.16. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market cap of $327.49 billion, a price-to-earnings ratio of 77.25, a PEG ratio of 1.62 and a beta of 0.56.

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 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 firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now 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 legal filing with the SEC, which is available at this link. Insiders own 0.08% of the company’s stock.

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.