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

Sunbeam Capital Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,892 shares of the company's stock, valued at approximately $692,000.

Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Tallon Kerry Patrick acquired a new position in shares of AbbVie in the 4th quarter valued at $309,000. Capital & Planning LLC lifted its stake 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 lifted its stake 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 stake in shares of AbbVie by 4.8% in the 4th quarter. FCG Investment Co now owns 12,208 shares of the company's stock valued at $2,169,000 after purchasing an additional 557 shares during the period. Finally, Cerro Pacific Wealth Advisors LLC lifted its stake in shares of AbbVie by 4.8% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 5,172 shares of the company's stock valued at $919,000 after purchasing an additional 236 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company'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 owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.08% of the stock is currently owned by insiders.

AbbVie Trading Up 1.3%

Shares of ABBV traded up $2.31 during mid-day trading on Thursday, reaching $185.40. The stock had a trading volume of 4,921,471 shares, compared to its average volume of 6,243,951. 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 52-week low of $153.58 and a 52-week high of $218.66. The business's fifty day moving average is $186.76 and its 200 day moving average is $186.09. The firm has a market cap of $327.49 billion, a price-to-earnings ratio of 77.25, a P/E/G ratio of 1.62 and a beta of 0.56.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Evercore ISI upped their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Wells Fargo & Company upped their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.

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.