Members Wealth LLC Purchases New Stake in AbbVie Inc. (NYSE:ABBV)

Members Wealth LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,076 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently modified their holdings of ABBV. Blue Bell Private Wealth Management LLC raised its holdings in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC raised its holdings in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock worth $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC raised its holdings in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock worth $242,000 after purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. raised its holdings in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC raised its holdings in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after purchasing an additional 57 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated 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 owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $191.27 on Thursday. The stock has a 50-day moving average price of $183.78 and a two-hundred day moving average price of $187.32. AbbVie Inc. has a 12-month low of $163.52 and a 12-month high of $218.66. 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 company has a market cap of $337.86 billion, a PE ratio of 79.70, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 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 the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ABBV shares. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Citigroup boosted their price target on AbbVie to $205.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.