AbbVie Inc. (NYSE:ABBV) Shares Purchased by Clarity Wealth Advisors LLC

Clarity Wealth Advisors LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 3.7% during the 4th quarter, Holdings Channel reports. The firm owned 31,525 shares of the company’s stock after acquiring an additional 1,119 shares during the quarter. AbbVie comprises about 1.5% of Clarity Wealth Advisors LLC’s holdings, making the stock its 25th biggest position. Clarity Wealth Advisors LLC’s holdings in AbbVie were worth $5,602,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the 4th quarter valued at about $35,000. Mizuho Securities Co. Ltd. lifted its holdings in 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 purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of AbbVie during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Truist Financial boosted their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, Morgan Stanley lifted their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. 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 stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $190.67 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business’s 50-day simple moving average is $177.38 and its 200 day simple moving average is $185.48. The company has a market cap of $336.94 billion, a P/E ratio of 79.45, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released 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 business earned $2.79 EPS. On average, sell-side analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by 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.