AbbVie Inc. (NYSE:ABBV) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 4.5% during the first quarter, HoldingsChannel.com reports. The firm owned 10,672 shares of the company’s stock after acquiring an additional 462 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in AbbVie were worth $2,237,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the period. Geode Capital Management LLC grew its stake in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after buying an additional 983,888 shares during the period. Capital Research Global Investors grew its stake in AbbVie by 2.3% during the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after buying an additional 778,126 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after buying an additional 3,599,336 shares during the period. Finally, Norges Bank purchased a new stake in AbbVie during the fourth quarter worth approximately $4,459,385,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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 stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ABBV shares. Citigroup reiterated a “neutral” rating and set a $205.00 price objective (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Guggenheim boosted their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.95.

AbbVie Trading Up 0.0%

NYSE ABBV opened at $187.30 on Thursday. AbbVie Inc. has a 12 month low of $162.16 and a 12 month high of $218.66. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market capitalization of $330.85 billion, a price-to-earnings ratio of 78.04, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company’s fifty day moving average price is $185.01 and its two-hundred day moving average price is $186.65.

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

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.