V Wealth Advisors LLC raised its stake in AbbVie Inc. (NYSE: ABBV – Get Rating) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,894 shares of the company stock after buying an additional 627 shares during the period. V Wealth Advisors LLC’s holdings in AbbVie were worth $ 2,017,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Charter Oak Capital Management LLC lifted its position in shares of AbbVie by 1.1% during the fourth quarter. Charter Oak Capital Management LLC now owns 6,527 shares of the company stock valued at $ 884,000 after purchasing an additional 73 shares in the last quarter. Ridgecrest Wealth Partners LLC lifted its position in shares of AbbVie by 0.7% during the fourth quarter. Ridgecrest Wealth Partners LLC now owns 11,340 shares of the company stock valued at $ 1,535,000 after purchasing an additional 74 shares in the last quarter. Sage Rhino Capital LLC lifted its position in shares of AbbVie by 2.7% during the fourth quarter. Sage Rhino Capital LLC now owns 2,831 shares of the company stock valued at $ 383,000 after purchasing an additional 75 shares in the last quarter. Barber Financial Group Inc. lifted its position in shares of AbbVie by 3.0% during the fourth quarter. Barber Financial Group Inc. now owns 2,683 shares of the company stock valued at $ 363,000 after purchasing an additional 77 shares in the last quarter. Finally, Strategic Financial Services Inc lifted its position in shares of AbbVie by 1.9% during the fourth quarter. Strategic Financial Services Inc now owns 4,248 shares of the company stock valued at $ 575,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 67.03% of the company stock.
ABBV has been the topic of a number of research analyst reports. Citigroup increased their price target on shares of AbbVie from $ 155.00 to $ 170.00 in a report on Tuesday, March 1st. UBS Group downgraded AbbVie from a “buy” rating to a “neutral” rating and raised their price target for the company from $ 129.00 to $ 147.00 in a research report on Monday, February 28th. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $ 150.00 price objective on the stock. in a report on Friday, May 6th. Morgan Stanley lifted their price objective on AbbVie from $ 142.00 to $ 192.00 and gave the stock an “overweight” rating in a report on Wednesday, April 6th. Finally, BMO Capital Markets lifted their price objective on AbbVie from $ 161.00 to $ 174.00 and gave the stock an “outperform” rating in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Buy” and a consensus price target of $ 159.75.
ABBV stock opened at $ 138.09 on Thursday. The stock has a market capitalization of $ 244.02 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 4.03 and a beta of 0.83. AbbVie Inc. has a 12-month low of $ 105.56 and a 12-month high of $ 175.91. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The stock’s 50 day simple moving average is $ 152.92 and its 200 day simple moving average is $ 145.32.
AbbVie (NYSE: ABBV – Get Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 3.15 by $ 0.01. The business had revenue of $ 13.36 billion for the quarter, compared to analysts’ expectations of $ 13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm posted $ 2.95 EPS. On average, research analysts predict that AbbVie Inc. will post 14.02 earnings per share for the current year.
In other news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $ 150.28, for a total transaction of $ 15,028,000.00. Following the transaction, the insider now directly owns 152,103 shares of the company stock, valued at approximately $ 22,858,038.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $ 159.20, for a total value of $ 4,408,248.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 491,451 shares of company stock valued at $ 75,018,019. Corporate insiders own 0.08% of the company stock.
AbbVie Company Profile: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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