Ameriflex Group Inc. Purchases New Position in AbbVie Inc. (NYSE:ABBV)

Ameriflex Group Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 3,056 shares of the company's stock, valued at approximately $562,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. United Advisor Group LLC grew its holdings in AbbVie by 2.1% in the 4th quarter. United Advisor Group LLC now owns 4,472 shares of the company's stock valued at $795,000 after buying an additional 90 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in AbbVie in the fourth quarter valued at about $692,000. American Trust raised its position in AbbVie by 185.6% in the fourth quarter. American Trust now owns 19,111 shares of the company's stock valued at $3,396,000 after purchasing an additional 12,420 shares during the last quarter. Ascent Group LLC raised its position in AbbVie by 5.7% in the fourth quarter. Ascent Group LLC now owns 25,936 shares of the company's stock valued at $4,609,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in AbbVie in the fourth quarter valued at about $784,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Price Performance

ABBV stock traded down $2.74 during mid-day trading on Wednesday, reaching $182.98. 4,783,938 shares of the company's stock were exchanged, compared to its average volume of 6,249,225. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The company has a market cap of $323.22 billion, a price-to-earnings ratio of 76.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The stock's 50 day moving average is $187.30 and its 200 day moving average is $186.11. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were 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 in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ABBV shares. Wells Fargo & Company raised their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. UBS Group lifted their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Bank of America upped their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Raymond James reissued an "outperform" rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.