Strategic Planning Group LLC Boosts Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Strategic Planning Group LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 35,322 shares of the company's stock after purchasing an additional 1,563 shares during the period. AbbVie comprises approximately 1.2% of Strategic Planning Group LLC's portfolio, making the stock its 26th biggest holding. Strategic Planning Group LLC's holdings in AbbVie were worth $6,277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. GGM Financials LLC increased its position in AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company's stock valued at $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company's stock valued at $3,575,000 after acquiring an additional 52 shares in the last quarter. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company's stock valued at $1,362,000 after purchasing an additional 52 shares during the last quarter. First Citizens Financial Corp grew its position in AbbVie by 0.9% during the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company's stock worth $1,141,000 after purchasing an additional 53 shares during the last quarter. Finally, Sunflower Bank N.A. increased its stake in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company's stock valued at $2,710,000 after purchasing an additional 53 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AbbVie

In related 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 transaction 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ABBV. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 13th. Daiwa Capital Markets lowered AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. BMO Capital Markets dropped their target price on AbbVie from $228.00 to $208.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th. Daiwa America lowered shares of AbbVie from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 5th. Finally, Citigroup dropped their price objective on shares of AbbVie from $215.00 to $205.00 and set a "buy" rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV traded up $0.28 during trading on Thursday, hitting $175.54. The company had a trading volume of 5,196,362 shares, compared to its average volume of 5,917,229. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a fifty day simple moving average of $176.37 and a two-hundred day simple moving average of $184.90. The firm has a market capitalization of $310.21 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion during the quarter, compared to analysts' expectations of $14.28 billion. During the same quarter in the prior year, the company earned $2.95 EPS. AbbVie's revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

AbbVie Company 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.