Peak Retirement Planning Inc. acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,542 shares of the company's stock, valued at approximately $274,000.
Other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new position in AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its stake in shares of AbbVie by 196.4% during 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 in the last quarter. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the fourth quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 70.23% of the company's stock.
Insider Transactions at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the 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 directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.08% of the company's stock.
Wall Street Analysts Forecast Growth
ABBV has been the topic of a number of recent analyst reports. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley lifted their price target on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Eight 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 stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.
View Our Latest Stock Analysis on AbbVie
AbbVie Stock Performance
NYSE:ABBV traded up $2.19 during mid-day trading on Thursday, reaching $185.28. The stock had a trading volume of 2,190,866 shares, compared to its average volume of 6,233,423. 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 has a 50 day simple moving average of $186.76 and a 200 day simple moving average of $186.09. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The firm has a market capitalization of $327.28 billion, a price-to-earnings ratio of 77.20, a PEG ratio of 1.62 and a beta of 0.56.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
AbbVie Profile
(
Free Report)
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.
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