AbbVie Inc. (NYSE:ABBV) Shares Acquired by Private Wealth Management Group LLC

Private Wealth Management Group LLC increased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 12.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,246 shares of the company’s stock after acquiring an additional 136 shares during the period. Private Wealth Management Group LLC’s holdings in AbbVie were worth $221,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. YANKCOM Partnership acquired a new stake in shares of AbbVie in the 4th quarter valued at about $1,725,000. Bleakley Financial Group LLC raised its stake in AbbVie by 19.8% during the fourth quarter. Bleakley Financial Group LLC now owns 59,682 shares of the company’s stock valued at $10,606,000 after buying an additional 9,879 shares in the last quarter. Kercheville Advisors LLC bought a new position in AbbVie during the 4th quarter worth approximately $217,000. Trilogy Capital Inc. grew its position in shares of AbbVie by 248.3% in the 4th quarter. Trilogy Capital Inc. now owns 15,824 shares of the company’s stock worth $2,812,000 after acquiring an additional 11,281 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC increased its holdings in shares of AbbVie by 3.3% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 33,063 shares of the company’s stock valued at $5,875,000 after acquiring an additional 1,045 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup raised their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Finally, Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Five 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 transaction of $310,032.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Up 0.9 %

NYSE:ABBV opened at $191.74 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm’s fifty day moving average is $177.01 and its 200-day moving average is $185.38. The firm has a market cap of $338.82 billion, a P/E ratio of 79.89, a P/E/G ratio of 1.84 and a beta of 0.58. 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 (NYSE:ABBV) last issued 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 return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company earned $2.79 EPS. Equities analysts expect 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.