Sunbeam Capital Management LLC Invests $692,000 in AbbVie Inc. (NYSE:ABBV)

Sunbeam Capital Management LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,678 shares of the company's stock, valued at approximately $692,000. AbbVie makes up approximately 1.5% of Sunbeam Capital Management LLC's portfolio, making the stock its 19th largest holding.

Several other institutional investors also recently modified their holdings of ABBV. Crestline Management LP increased its holdings in shares of AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock valued at $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock valued at $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP grew its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock valued at $186,000 after buying an additional 276 shares during the last quarter. AXA S.A. raised its holdings in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock valued at $172,705,000 after acquiring an additional 125,568 shares during the period. Finally, Keystone Financial Group lifted its position in AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after acquiring an additional 161 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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 on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. The trade was a 40.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,693 shares of company stock worth $22,282,985 over the last 90 days. Insiders own 0.08% of the company's stock.

AbbVie Price Performance

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

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter last year, the company posted $2.31 EPS. The company's revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Bank of America boosted their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Raymond James reiterated an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

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.