Chancellor Financial Group WB LP Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Chancellor Financial Group WB LP bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,523 shares of the company's stock, valued at approximately $981,000. AbbVie comprises 0.8% of Chancellor Financial Group WB LP's portfolio, making the stock its 25th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of ABBV. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $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 purchasing an additional 110 shares during the period. Promus Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on ABBV shares. BMO Capital Markets lifted their price target on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Cantor Fitzgerald started coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Raymond James reaffirmed an "outperform" rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Citigroup reiterated a "neutral" rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Finally, Evercore ISI boosted their price objective 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. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Stock Down 0.0%

Shares of ABBV traded down $0.09 during mid-day trading on Friday, reaching $185.53. 11,606,785 shares of the stock traded hands, compared to its average volume of 6,243,426. The stock has a fifty day simple moving average of $185.97 and a 200 day simple moving average of $186.49. AbbVie Inc. has a 12-month low of $158.83 and a 12-month high of $218.66. 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 firm has a market cap of $327.72 billion, a price-to-earnings ratio of 77.30, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.31 EPS. Sell-side analysts expect 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 AbbVie stock in a transaction 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 completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company's stock.

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.