AbbVie Inc. (NYSE:ABBV) Shares Bought by Krilogy Financial LLC

Krilogy Financial LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,272 shares of the company’s stock after purchasing an additional 371 shares during the period. Krilogy Financial LLC’s holdings in AbbVie were worth $2,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC purchased a new position in AbbVie during the 4th quarter worth $26,000. Able Wealth Management LLC acquired a new stake in AbbVie in the fourth quarter valued at about $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter valued at approximately $36,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie during the 1st quarter worth approximately $37,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of recent analyst reports. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Truist Financial upped their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. BMO Capital Markets reduced their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $176.14.

AbbVie Trading Down 0.8 %

Shares of NYSE ABBV traded down $1.32 during midday trading on Thursday, reaching $158.29. 5,672,553 shares of the stock were exchanged, compared to its average volume of 5,529,445. The stock has a 50 day moving average price of $168.81 and a 200-day moving average price of $162.98. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $279.52 billion, a P/E ratio of 46.97, a P/E/G ratio of 2.09 and a beta of 0.61. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company earned $2.46 EPS. AbbVie’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,454 shares of company stock worth $58,595,955. 0.25% of the stock is owned by company insiders.

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.