Griffith & Werner Inc. Invests $1.92 Million in AbbVie Inc. (NYSE:ABBV)

Griffith & Werner Inc. purchased a new position in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,826 shares of the company's stock, valued at approximately $1,924,000. AbbVie comprises about 1.3% of Griffith & Werner Inc.'s investment portfolio, making the stock its 28th biggest holding.

Other large investors also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC raised its holdings 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 acquiring an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the 4th quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ABBV shares. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. BNP Paribas raised AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, UBS Group increased their price target on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Price Performance

Shares of NYSE ABBV traded up $2.24 during midday trading on Thursday, hitting $185.33. The stock had a trading volume of 2,306,467 shares, compared to its average volume of 6,233,786. The company has a market capitalization of $327.37 billion, a PE ratio of 77.19, a P/E/G ratio of 1.62 and a beta of 0.56. The stock has a 50 day simple moving average of $186.76 and a 200-day simple moving average of $186.09. AbbVie Inc. has a 1 year low of $153.58 and a 1 year 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.

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

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.