IFS Advisors LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) 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.
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.
Check Out Our Latest Stock Analysis on AbbVie
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.
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