May Barnhard Investments LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

May Barnhard Investments LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,273 shares of the company’s stock, valued at approximately $267,000.

Other institutional investors have also made changes to their positions in the company. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $31,000. Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter worth $32,000. Finally, Pinney & Scofield Inc. bought a new position in AbbVie during the fourth quarter worth $36,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $191.27 on Thursday. AbbVie Inc. has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a 50 day moving average of $183.78 and a 200-day moving average of $187.32. 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 market cap of $337.86 billion, a price-to-earnings ratio of 79.70, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating 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 analysts’ expectations of $12.91 billion. During the same period last year, the firm posted $2.31 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ABBV shares. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Citigroup upped their price target on AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday. Bank of America lifted their price objective on AbbVie to $204.00 and gave the stock a “hold” rating in a report on Monday. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Guggenheim raised 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 investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by corporate 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.