American Trust Buys 12,420 Shares of AbbVie Inc. (NYSE:ABBV)

American Trust grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 185.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,111 shares of the company's stock after purchasing an additional 12,420 shares during the period. American Trust's holdings in AbbVie were worth $3,396,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth $29,000. EnRich Financial Partners LLC raised its holdings in shares of 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 acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the fourth quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Raymond James restated an "outperform" rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Finally, BNP Paribas upgraded AbbVie to a "hold" rating in a research note on Thursday, May 8th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Price Performance

NYSE ABBV traded down $2.74 during trading on Wednesday, reaching $182.98. 4,783,938 shares of the company traded hands, compared to its average volume of 6,249,225. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock's 50 day moving average price is $187.30 and its two-hundred day moving average price is $186.11. The company has a market cap of $323.22 billion, a price-to-earnings ratio of 76.24, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released 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 the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.31 earnings per share. As a group, analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business'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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by company insiders.

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.