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

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

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its holdings in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its holdings in AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares during the last quarter. Finally, Norges Bank purchased a new position in AbbVie in the fourth quarter worth $4,459,385,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

NYSE ABBV traded down $2.74 during trading hours on Wednesday, hitting $182.98. 4,783,938 shares of the company's stock traded hands, compared to its average volume of 6,246,369. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a market capitalization of $323.22 billion, a PE ratio of 76.24, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm's 50-day moving average is $187.30 and its 200-day moving average is $186.11.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABBV shares. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Bank of America lifted their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Finally, UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.08% of the stock is currently owned by company insiders.

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.