AbbVie Inc. (NYSE:ABBV) Shares Acquired by Capital Investment Counsel LLC

Capital Investment Counsel LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,700 shares of the company’s stock after acquiring an additional 229 shares during the quarter. AbbVie accounts for about 1.6% of Capital Investment Counsel LLC’s holdings, making the stock its 18th biggest holding. Capital Investment Counsel LLC’s holdings in AbbVie were worth $9,365,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the third quarter worth approximately $28,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter worth approximately $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ABBV shares. Piper Sandler upped their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. BMO Capital Markets decreased their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Stock Down 1.1 %

AbbVie stock opened at $174.88 on Wednesday. The stock’s 50 day moving average price is $176.05 and its 200 day moving average price is $184.94. The company has a market cap of $309.04 billion, a PE ratio of 60.72, a price-to-earnings-growth ratio of 1.68 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 1-year low of $153.58 and a 1-year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.06 EPS 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 that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.