AbbVie Inc. (NYSE:ABBV) Holdings Lifted by Benedict Financial Advisors Inc.

Benedict Financial Advisors Inc. boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,850 shares of the company’s stock after acquiring an additional 256 shares during the quarter. AbbVie comprises about 2.0% of Benedict Financial Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Benedict Financial Advisors Inc.’s holdings in AbbVie were worth $8,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after buying an additional 4,471,806 shares in the last quarter. State Street Corp lifted its holdings in shares of AbbVie by 1.6% during the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of AbbVie by 59.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after purchasing an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after buying an additional 582,953 shares during the period. Finally, Saturna Capital Corp boosted its holdings in shares of AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after buying an additional 560,808 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Sanford C. Bernstein began coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. UBS Group upped their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $190.67 on Friday. 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 business has a 50 day moving average price of $177.54 and a 200 day moving average price of $185.60. The company has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 quarter in the prior year, the business posted $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was 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 in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company 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.