Good Life Advisors LLC Purchases 2,319 Shares of AbbVie Inc. (NYSE:ABBV)

Good Life Advisors LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,416 shares of the company’s stock after purchasing an additional 2,319 shares during the quarter. AbbVie accounts for about 0.8% of Good Life Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. Good Life Advisors LLC’s holdings in AbbVie were worth $11,401,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Tallon Kerry Patrick bought a new stake in AbbVie in the 4th quarter worth approximately $309,000. Capital & Planning LLC grew its holdings in shares of AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock worth $1,109,000 after acquiring an additional 105 shares during the period. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after acquiring an additional 3,108 shares during the last quarter. Brighton Jones LLC lifted its holdings in AbbVie by 17.4% in the fourth quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock valued at $4,072,000 after acquiring an additional 3,401 shares during the period. Finally, Revolve Wealth Partners LLC boosted its position in AbbVie by 72.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.9%

AbbVie stock opened at $190.67 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 firm has a market cap of $336.80 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.62 and a beta of 0.50. The business has a fifty day moving average of $184.21 and a two-hundred day moving average of $187.55. AbbVie Inc. has a twelve month low of $163.52 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during 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%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. On average, analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ABBV. Wells Fargo & Company increased their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, June 11th. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. BNP Paribas upgraded AbbVie to a “hold” rating in a research report on Thursday, May 8th. Finally, Guggenheim upped their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $211.29.

AbbVie Company 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.