Waldron Private Wealth LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Waldron Private Wealth LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,602 shares of the company's stock after acquiring an additional 3,930 shares during the quarter. Waldron Private Wealth LLC's holdings in AbbVie were worth $6,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Financial Advisory boosted its holdings in AbbVie by 8.8% in the 4th quarter. Brown Financial Advisory now owns 1,920 shares of the company's stock valued at $341,000 after purchasing an additional 155 shares during the last quarter. Clear Creek Financial Management LLC lifted its holdings in AbbVie by 15.9% in the fourth quarter. Clear Creek Financial Management LLC now owns 3,904 shares of the company's stock valued at $694,000 after acquiring an additional 537 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in AbbVie in the fourth quarter worth approximately $952,000. Austin Private Wealth LLC increased its stake in AbbVie by 21.6% during the fourth quarter. Austin Private Wealth LLC now owns 4,763 shares of the company's stock worth $846,000 after acquiring an additional 846 shares during the last quarter. Finally, Great Diamond Partners LLC raised its position in AbbVie by 2.4% in the fourth quarter. Great Diamond Partners LLC now owns 8,659 shares of the company's stock valued at $1,539,000 after purchasing an additional 207 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Up 4.7 %

Shares of ABBV stock traded up $8.25 on Friday, reaching $183.90. 11,926,469 shares of the stock were exchanged, compared to its average volume of 5,362,292. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $324.98 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58. The business's 50 day moving average price is $176.57 and its 200 day moving average price is $184.95.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same period in the previous year, the company posted $2.79 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company's stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ABBV shares. Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Argus upgraded shares of AbbVie from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a "market perform" rating and a $203.00 price objective on the stock. Truist Financial dropped their target price on shares of AbbVie from $215.00 to $211.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $205.00.

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.