Wealthcare Capital Partners LLC Makes New $263,000 Investment in AbbVie Inc. (NYSE:ABBV)

Wealthcare Capital Partners LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,255 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $32,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $36,000. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.3%

Shares of NYSE ABBV opened at $189.89 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market cap of $335.42 billion, a price-to-earnings ratio of 79.12, a PEG ratio of 1.62 and a beta of 0.50. AbbVie Inc. has a 12 month low of $163.52 and a 12 month high of $218.66. The stock has a 50-day moving average price of $184.24 and a two-hundred day moving average price of $187.09.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.31 earnings per share. As a group, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Wall Street Zen cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Guggenheim boosted their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Bank of America boosted their target price on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $212.19.

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.