Oak Harvest Investment Services lifted its position in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 31.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,080 shares of the company’s stock after purchasing an additional 12,079 shares during the quarter. AbbVie accounts for 1.2% of Oak Harvest Investment Services’ investment portfolio, making the stock its 24th largest holding. Oak Harvest Investment Services’ holdings in AbbVie were worth $8,899,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $29,000. Boyd Wealth Management LLC bought a new stake in AbbVie during the fourth quarter worth $211,000. Cibc World Market Inc. raised its position in AbbVie by 23.7% in the 4th quarter. Cibc World Market Inc. now owns 591,531 shares of the company’s stock valued at $105,115,000 after buying an additional 113,324 shares during the last quarter. Clarity Financial LLC lifted its stake in AbbVie by 23.8% during the 4th quarter. Clarity Financial LLC now owns 206,372 shares of the company’s stock valued at $36,672,000 after acquiring an additional 39,626 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC boosted its holdings in AbbVie by 2.0% during the 4th quarter. Strategic Wealth Investment Group LLC now owns 51,927 shares of the company’s stock worth $9,228,000 after acquiring an additional 1,010 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ABBV has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. BMO Capital Markets dropped their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Morgan Stanley cut their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.00.
Insider Buying and Selling at AbbVie
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 directly owns 6,983 shares of the company’s stock, valued at $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 is available at this link. Insiders own 0.25% of the company’s stock.
AbbVie Trading Up 0.2 %
Shares of ABBV stock opened at $175.54 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company’s fifty day simple moving average is $176.37 and its two-hundred day simple moving average is $184.90. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58.
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings data 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company posted $2.95 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts anticipate 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.
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