Tectonic Advisors LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Tectonic Advisors LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 15.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,018 shares of the company’s stock after purchasing an additional 5,693 shares during the quarter. Tectonic Advisors LLC’s holdings in AbbVie were worth $7,467,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Groupama Asset Managment grew its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie in the 4th quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie during the 3rd quarter worth approximately $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Citigroup lifted their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday. Wells Fargo & Company lifted their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Bank of America reiterated a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $189.97 on Wednesday. The business’s fifty day simple moving average is $177.01 and its 200-day simple moving average is $185.38. 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 firm has a market cap of $335.71 billion, a PE ratio of 79.16, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business posted $2.79 EPS. Equities analysts forecast that AbbVie Inc. will post 12.26 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.