Heck Capital Advisors LLC Makes New $952,000 Investment in AbbVie Inc. (NYSE:ABBV)

Heck Capital Advisors LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 5,358 shares of the company’s stock, valued at approximately $952,000.

Several other hedge funds also recently modified their holdings of the business. Austin Private Wealth LLC lifted its holdings in AbbVie by 21.6% in the fourth quarter. Austin Private Wealth LLC now owns 4,763 shares of the company’s stock valued at $846,000 after buying an additional 846 shares during the period. Great Diamond Partners LLC lifted its stake in shares of AbbVie by 2.4% in the 4th quarter. Great Diamond Partners LLC now owns 8,659 shares of the company’s stock valued at $1,539,000 after purchasing an additional 207 shares during the period. Caprock Group LLC grew its stake in shares of AbbVie by 3.9% during the fourth quarter. Caprock Group LLC now owns 42,821 shares of the company’s stock worth $7,609,000 after purchasing an additional 1,624 shares during the period. Saxony Capital Management LLC increased its holdings in AbbVie by 25.6% in the fourth quarter. Saxony Capital Management LLC now owns 2,140 shares of the company’s stock valued at $380,000 after purchasing an additional 436 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in AbbVie by 0.6% in the fourth quarter. TCI Wealth Advisors Inc. now owns 16,382 shares of the company’s stock valued at $2,911,000 after buying an additional 97 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler lifted their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Five equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Trading Up 4.7 %

NYSE ABBV opened at $183.90 on Friday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a 50 day moving average of $176.43 and a 200-day moving average of $184.84. The company has a market cap of $324.98 billion, a PE ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same quarter last year, the firm posted $2.79 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

About AbbVie

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.