1,044 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Everest Management Corp.

Everest Management Corp. acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,044 shares of the company’s stock, valued at approximately $219,000.

Other large investors have also recently made changes to their positions in the company. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the 4th quarter worth about $32,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie in the 4th quarter valued at about $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Up 1.3%

NYSE ABBV opened at $189.89 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s 50-day simple moving average is $184.24 and its two-hundred day simple moving average is $187.19. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66. The company has a market capitalization 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 (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.31 EPS. Research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie 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 transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ABBV shares. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Citigroup reaffirmed a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Guggenheim lifted their price target on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $212.19.

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.