Sound Income Strategies LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,515 shares of the company’s stock after purchasing an additional 13,719 shares during the quarter. AbbVie makes up 2.0% of Sound Income Strategies LLC’s investment portfolio, making the stock its 12th biggest holding. Sound Income Strategies LLC’s holdings in AbbVie were worth $18,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the stock. Red Tortoise LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $27,000. Boulder Wealth Advisors LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $31,000. My Personal CFO LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $32,000. Align Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter valued at about $27,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after acquiring an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 68.27% of the company’s stock.
AbbVie Stock Down 0.6 %
ABBV opened at $137.86 on Wednesday. The company has a debt-to-equity ratio of 4.46, a current ratio of 0.96 and a quick ratio of 0.82. The business has a 50 day simple moving average of $146.49 and a 200-day simple moving average of $152.54. The stock has a market capitalization of $243.23 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $131.10 and a 12 month high of $168.11.
Analyst Upgrades and Downgrades
ABBV has been the topic of a number of recent analyst reports. Barclays increased their price objective on AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Morgan Stanley raised their price target on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. StockNews.com started coverage on AbbVie in a research note on Thursday, May 18th. They set a “strong-buy” rating on the stock. Guggenheim dropped their price target on AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Finally, Wells Fargo & Company dropped their price target on AbbVie from $200.00 to $195.00 in a research note on Friday, April 28th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $163.40.
Insider Activity
In other news, EVP Perry C. Siatis sold 3,520 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total value of $563,200.00. Following the completion of the sale, the executive vice president now directly owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other AbbVie news, EVP Perry C. Siatis sold 3,520 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total transaction of $563,200.00. Following the sale, the executive vice president now directly owns 10,377 shares in the company, valued at $1,660,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Elaine K. Sorg sold 15,002 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $160.03, for a total value of $2,400,770.06. Following the sale, the senior vice president now owns 42,829 shares in the company, valued at $6,853,924.87. The disclosure for this sale can be found here. Insiders sold 32,151 shares of company stock valued at $5,187,783 in the last three months. 0.26% of the stock is currently owned by company insiders.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.
Featured Stories
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
- Insider Trading Activity (Form 4 Filings): What is Form 4?
- Innovative Eyewear Stock Surges on Reebok Smart Eyewear Deal
- Is ESG Investing Dead? Fund Outflows Signal Tough Times
- e.l.f. Beauty on a Shelf: Consolidating for the Next Leg Up?
- The Most Upgraded Stocks In Q2
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.
