Breakthru Advisory Services LLC Buys Shares of 1,608 AbbVie Inc. (NYSE:ABBV)

Breakthru Advisory Services LLC bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,608 shares of the company's stock, valued at approximately $286,000.

Several other institutional investors have also modified their holdings of the stock. Fourth Dimension Wealth LLC acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $254,000. Breed s Hill Capital LLC grew its position in AbbVie by 36.1% in the fourth quarter. Breed s Hill Capital LLC now owns 10,126 shares of the company's stock worth $1,799,000 after acquiring an additional 2,686 shares during the period. Vise Technologies Inc. grew its position in AbbVie by 28.5% in the fourth quarter. Vise Technologies Inc. now owns 26,275 shares of the company's stock worth $4,669,000 after acquiring an additional 5,830 shares during the period. Retirement Planning Group LLC increased its stake in AbbVie by 4.2% during the fourth quarter. Retirement Planning Group LLC now owns 2,714 shares of the company's stock worth $482,000 after acquiring an additional 109 shares during the last quarter. Finally, Connecticut Wealth Management LLC raised its position in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock valued at $660,000 after purchasing an additional 57 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $182.32 on Friday. The business has a 50-day simple moving average of $189.00 and a 200-day simple moving average of $186.55. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a market cap of $322.05 billion, a PE ratio of 75.97, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS 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 company 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 business posted $2.31 EPS. The firm's revenue was up 8.4% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,693 shares of company stock worth $22,282,985 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Morgan Stanley increased their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday. Finally, Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a 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 assigned a strong buy rating to the company's stock. According to MarketBeat, AbbVie has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.