Griffith & Werner Inc. Buys New Position in AbbVie Inc. (NYSE:ABBV)

Griffith & Werner Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,826 shares of the company's stock, valued at approximately $1,924,000. AbbVie accounts for 1.3% of Griffith & Werner Inc.'s holdings, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at $29,000. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% in the fourth 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 position in AbbVie in the fourth quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Up 1.2%

ABBV stock traded up $2.26 during mid-day trading on Tuesday, reaching $185.52. The company's stock had a trading volume of 5,720,849 shares, compared to its average volume of 6,252,208. The company has a market cap of $327.70 billion, a price-to-earnings ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The business's 50 day moving average price is $187.82 and its 200 day moving average price is $186.11. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS 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 company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the business posted $2.31 EPS. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated 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 sale, the executive vice president now owns 53,234 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction dated 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 owns 44,284 shares in the company, valued at approximately $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 107,693 shares of company stock valued at $22,282,985. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. BMO Capital Markets boosted their target price 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. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. UBS Group raised their target price on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, Bank of America raised their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Eight 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.