IFS Advisors LLC Buys Shares of 200 AbbVie Inc. (NYSE:ABBV)

IFS Advisors LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 200 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the 4th quarter worth approximately $26,000. Able Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in AbbVie in the 4th quarter worth approximately $37,000. Clarity Asset Management Inc. acquired a new stake in AbbVie in the 4th quarter worth approximately $42,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $44,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $171.36 on Thursday. The business’s 50-day simple moving average is $163.63 and its 200 day simple moving average is $166.41. The stock has a market cap of $302.60 billion, a price-to-earnings ratio of 50.85, a P/E/G ratio of 2.17 and a beta of 0.60. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.46 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ABBV shares. Cantor Fitzgerald started coverage on AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. Piper Sandler boosted their price objective on AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets lowered their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.64.

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.