True Link Financial Advisors LLC Purchases Shares of 1,029 AbbVie Inc. (NYSE:ABBV)

True Link Financial Advisors LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,029 shares of the company’s stock, valued at approximately $216,000.

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

AbbVie Stock Down 0.1%

AbbVie stock opened at $185.26 on Friday. The company has a market capitalization of $327.24 billion, a P/E ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The stock has a 50-day simple moving average of $184.98 and a 200-day simple moving average of $187.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.31 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 transaction, 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 SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ABBV shares. Morgan Stanley lifted their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Guggenheim lifted their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.