Ascent Group LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,936 shares of the company's stock after purchasing an additional 1,389 shares during the period. Ascent Group LLC's holdings in AbbVie were worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter worth $29,000. EnRich Financial Partners LLC lifted its stake in shares of AbbVie by 196.4% during 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 during the last quarter. Promus Capital LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in AbbVie in the 4th quarter valued at about $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have issued reports on ABBV. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Wall Street Zen downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Bank of America lifted their target price on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Finally, UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.
Read Our Latest Stock Analysis on ABBV
AbbVie Trading Down 0.4%
Shares of ABBV stock traded down $0.75 during mid-day trading on Friday, reaching $184.87. 2,330,205 shares of the stock traded hands, compared to its average volume of 6,236,897. The company has a market cap of $326.55 billion, a price-to-earnings ratio of 76.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 stock's fifty day simple moving average is $186.28 and its two-hundred day simple moving average is $186.16. 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 announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.59% and a return on equity of 296.28%. The company's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 EPS. On average, research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
Insider Buying and Selling
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's 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 sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.
AbbVie Profile
(
Free Report)
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.
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