Elser Financial Planning Inc bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,612 shares of the company's stock, valued at approximately $464,000.
Other institutional investors and hedge funds have also modified their holdings of the company. AMF Tjanstepension AB acquired a new position in AbbVie during the 3rd quarter worth $8,777,000. Fiduciary Financial Group LLC acquired a new position in AbbVie during the 3rd quarter worth $283,000. Montis Financial LLC acquired a new position in AbbVie during the 3rd quarter worth $522,000. Cardinal Capital Management Inc. lifted its holdings in AbbVie by 0.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 197,427 shares of the company's stock worth $38,988,000 after buying an additional 588 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its holdings in AbbVie by 3.4% during the 3rd quarter. Carnegie Investment Counsel now owns 38,431 shares of the company's stock worth $7,589,000 after buying an additional 1,252 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on ABBV shares. Raymond James reaffirmed an "outperform" rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Daiwa America downgraded AbbVie from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 5th. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Piper Sandler Companies reissued an "overweight" rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Finally, Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $208.35.
Check Out Our Latest Analysis on AbbVie
AbbVie Stock Up 0.3 %
ABBV stock traded up $0.54 during trading hours on Thursday, reaching $193.54. 4,103,858 shares of the stock were exchanged, compared to its average volume of 5,955,998. The firm's 50-day moving average is $178.24 and its 200-day moving average is $185.91. The company has a market cap of $342.00 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the prior year, the firm posted $2.79 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.
Insiders Place Their Bets
In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm'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 transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company's stock.
About AbbVie
(
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.
Recommended Stories
Before you consider AbbVie, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.
While AbbVie currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
