Bernard Wealth Management Corp. Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Bernard Wealth Management Corp. acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,456 shares of the company's stock, valued at approximately $614,000.

Several other large investors also recently made changes to their positions in ABBV. Tallon Kerry Patrick acquired a new position in AbbVie during the 4th quarter worth $309,000. Capital & Planning LLC grew its holdings in AbbVie by 1.7% during the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after acquiring an additional 105 shares in the last quarter. LaFleur & Godfrey LLC grew its holdings in AbbVie by 4.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock worth $14,109,000 after acquiring an additional 3,108 shares in the last quarter. Brighton Jones LLC grew its holdings in AbbVie by 17.4% during the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock worth $4,072,000 after acquiring an additional 3,401 shares in the last quarter. Finally, Gradient Investments LLC lifted its position in shares of AbbVie by 10.2% in the 4th quarter. Gradient Investments LLC now owns 85,459 shares of the company's stock worth $15,186,000 after buying an additional 7,894 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ABBV. Cantor Fitzgerald began coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target on the stock. Raymond James reiterated an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. BMO Capital Markets lifted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Finally, Citigroup reiterated a "neutral" rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $210.95.

AbbVie Stock Down 0.0%

ABBV traded down $0.09 during trading on Friday, hitting $185.53. 11,606,785 shares of the company's stock were exchanged, compared to its average volume of 6,281,110. 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 business's 50 day moving average is $185.97 and its two-hundred day moving average is $186.26. AbbVie Inc. has a fifty-two week low of $156.20 and a fifty-two week high of $218.66. The stock has a market cap of $327.72 billion, a P/E ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56.

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, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company's stock.

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.