AbbVie Inc. (NYSE:ABBV) Shares Purchased by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 23.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 22,168 shares of the company’s stock after acquiring an additional 4,182 shares during the quarter. AbbVie comprises about 0.8% of Tyche Wealth Partners LLC’s portfolio, making the stock its 27th largest position. Tyche Wealth Partners LLC’s holdings in AbbVie were worth $3,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GGM Financials LLC grew its position in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after acquiring an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc boosted 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 worth $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. raised its stake in AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares in the last quarter. Sunflower Bank N.A. raised its stake in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC raised its stake in AbbVie by 3.4% in the third quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after buying an additional 54 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $191.74 on Thursday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock has a market cap of $338.82 billion, a PE ratio of 79.89, a P/E/G ratio of 1.84 and a beta of 0.58. The firm has a 50-day simple moving average of $177.01 and a two-hundred day simple moving average of $185.38. 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 (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the firm earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.26 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Five equities 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, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were 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. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

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.