Madison Park Capital Advisors LLC Purchases Shares of 1,180 AbbVie Inc. (NYSE:ABBV)

Madison Park Capital Advisors LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,180 shares of the company’s stock, valued at approximately $215,000.

Other large investors have also recently bought and sold shares of the company. American National Bank grew its position in AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after acquiring an additional 2,695 shares during the period. AXS Investments LLC grew its holdings in shares of AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after purchasing an additional 307 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in shares of AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after purchasing an additional 165 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after purchasing an additional 7,737 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in shares of AbbVie by 21.3% during the third quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after purchasing an additional 4,633 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of ABBV opened at $171.36 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89. The stock has a market cap of $302.60 billion, a P/E ratio of 50.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.60. The stock’s 50-day moving average price is $163.63 and its two-hundred day moving average price is $166.41.

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

Analyst Ratings Changes

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