Texas Bank & Trust Co Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Texas Bank & Trust Co acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,342 shares of the company's stock, valued at approximately $1,127,000.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter valued at approximately $29,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of ABBV opened at $184.02 on Friday. The company's fifty day moving average is $191.30 and its 200-day moving average is $186.97. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm has a market cap of $325.06 billion, a price-to-earnings ratio of 76.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 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 company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. AbbVie's quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on ABBV shares. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Evercore ISI increased their target price 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. Guggenheim upped their price target 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. Raymond James restated an "outperform" rating and issued a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price 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.

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