Shepherd Financial Partners LLC Buys 466 Shares of AbbVie Inc. (NYSE:ABBV)

Shepherd Financial Partners LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 25,602 shares of the company’s stock after purchasing an additional 466 shares during the period. Shepherd Financial Partners LLC’s holdings in AbbVie were worth $5,364,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. EnRich Financial Partners LLC increased its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in shares of AbbVie in the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $32,000. Finally, Siemens Fonds Invest GmbH raised its stake in AbbVie by 197.6% during the 4th quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company’s stock valued at $32,000 after purchasing an additional 119,141 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’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 transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 22nd. BNP Paribas raised shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. Guggenheim lifted their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Eight investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $211.29.

AbbVie Price Performance

NYSE:ABBV opened at $185.41 on Wednesday. The firm has a market capitalization of $327.51 billion, a price-to-earnings ratio of 78.90, a PEG ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64. The business has a 50 day simple moving average of $184.64 and a 200-day simple moving average of $187.59. AbbVie Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. AbbVie’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 EPS. Equities analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

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.