Wealth Quarterback LLC Acquires 174 Shares of AbbVie Inc. (NYSE:ABBV)

Wealth Quarterback LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 8,280 shares of the company’s stock after acquiring an additional 174 shares during the period. AbbVie makes up approximately 0.8% of Wealth Quarterback LLC’s holdings, making the stock its 22nd biggest holding. Wealth Quarterback LLC’s holdings in AbbVie were worth $1,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the fourth quarter worth $44,000. Clear Investment Research LLC acquired a new stake in AbbVie in the fourth quarter worth about $48,000. Core Wealth Advisors Inc. increased its position in AbbVie by 459.7% in the third quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after purchasing an additional 285 shares during the period. Bourgeon Capital Management LLC raised its holdings in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the last quarter. Finally, Naples Money Management LLC acquired a new position in AbbVie during the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ABBV. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Barclays cut their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Cantor Fitzgerald began coverage on AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target on the stock. HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Wednesday. Finally, BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $178.21.

Check Out Our Latest Research Report on AbbVie

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

ABBV stock traded up $0.85 during midday trading on Friday, reaching $169.42. 3,781,727 shares of the company were exchanged, compared to its average volume of 5,537,742. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a market capitalization of $299.17 billion, a price-to-earnings ratio of 50.27, a price-to-earnings-growth ratio of 2.12 and a beta of 0.60. The business has a 50-day moving average price of $164.31 and a two-hundred day moving average price of $164.59. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBVGet Free Report) last announced its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. AbbVie’s revenue was up .7% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 11.26 EPS for the current year.

About AbbVie

(Free Report)

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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