Leigh Baldwin & CO. LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Leigh Baldwin & CO. LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,739 shares of the company's stock, valued at approximately $309,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Armis Advisers LLC bought a new position in AbbVie during the fourth quarter valued at about $436,000. Integrated Advisors Network LLC grew its position in AbbVie by 0.5% during the fourth quarter. Integrated Advisors Network LLC now owns 42,602 shares of the company's stock valued at $7,570,000 after buying an additional 208 shares during the period. Garde Capital Inc. grew its position in AbbVie by 17.6% during the fourth quarter. Garde Capital Inc. now owns 1,335 shares of the company's stock valued at $237,000 after buying an additional 200 shares during the period. Hall Capital Management Co. Inc. bought a new position in AbbVie during the fourth quarter valued at about $2,841,000. Finally, Great Valley Advisor Group Inc. lifted its holdings in AbbVie by 1.5% during the fourth quarter. Great Valley Advisor Group Inc. now owns 84,130 shares of the company's stock valued at $14,950,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors own 70.23% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ABBV shares. BMO Capital Markets upped their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Bank of America increased their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

Insider Transactions at AbbVie

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 sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.08% of the company's stock.

AbbVie Trading Up 1.3%

Shares of AbbVie stock traded up $2.31 on Thursday, hitting $185.40. The stock had a trading volume of 4,921,508 shares, compared to its average volume of 6,243,952. 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 Inc. has a one year low of $153.58 and a one year high of $218.66. The stock has a market cap of $327.49 billion, a price-to-earnings ratio of 77.25, a PEG ratio of 1.62 and a beta of 0.56. The stock's 50-day simple moving average is $186.76 and its two-hundred day simple moving average is $186.09.

AbbVie (NYSE:ABBV - Get Free Report) last issued its 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter last year, the business earned $2.31 earnings per share. The business's revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

About AbbVie

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.