Hall Capital Management Co. Inc. Buys Shares of 15,985 AbbVie Inc. (NYSE:ABBV)

Hall Capital Management Co. Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 15,985 shares of the company's stock, valued at approximately $2,841,000. AbbVie makes up approximately 1.3% of Hall Capital Management Co. Inc.'s portfolio, making the stock its 24th largest position.

Other hedge funds have also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of AbbVie in the 4th quarter valued at about $309,000. Capital & Planning LLC boosted its position in shares of AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after purchasing an additional 105 shares during the period. LaFleur & Godfrey LLC boosted its position in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares during the period. FCG Investment Co lifted its position in AbbVie by 4.8% during the 4th quarter. FCG Investment Co now owns 12,208 shares of the company's stock worth $2,169,000 after acquiring an additional 557 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC lifted its position in AbbVie by 4.8% during the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 5,172 shares of the company's stock worth $919,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Stock Down 1.5%

Shares of NYSE ABBV traded down $2.74 during midday trading on Wednesday, reaching $182.98. 4,783,938 shares of the company's stock were exchanged, compared to its average volume of 6,249,225. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The stock has a market capitalization of $323.22 billion, a PE ratio of 76.24, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The business's fifty day moving average price is $187.30 and its two-hundred day moving average price 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 for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. BMO Capital Markets raised 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. Raymond James reissued an "outperform" rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Truist Financial raised their price target on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Eight investment 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $210.95.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company's stock.

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.