AbbVie Inc. (NYSE:ABBV) Shares Purchased by Acropolis Investment Management LLC

Acropolis Investment Management LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,494 shares of the company’s stock after purchasing an additional 98 shares during the period. Acropolis Investment Management LLC’s holdings in AbbVie were worth $732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in AbbVie in the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter valued at $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the fourth quarter valued at $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in AbbVie in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ABBV shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Citigroup upped their target price on shares of AbbVie to $205.00 and gave the company a “hold” rating in a report on Wednesday, June 11th. Guggenheim upped their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.29.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.9%

Shares of ABBV opened at $190.67 on Monday. 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’s 50-day moving average is $184.21 and its two-hundred day moving average is $187.55. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The firm has a market capitalization of $336.80 billion, a P/E ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50.

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

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.