AbbVie Inc. (NYSE:ABBV) Shares Purchased by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,838 shares of the company’s stock after acquiring an additional 304 shares during the quarter. Sand Hill Global Advisors LLC’s holdings in AbbVie were worth $905,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. WealthPlan Investment Management LLC grew its holdings in shares of AbbVie by 664.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock worth $8,466,000 after acquiring an additional 49,365 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of AbbVie by 301.0% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,562 shares of the company’s stock worth $1,276,000 after acquiring an additional 6,427 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of AbbVie by 26.9% in the 3rd quarter. Larson Financial Group LLC now owns 2,530 shares of the company’s stock worth $377,000 after acquiring an additional 536 shares during the last quarter. Fiducient Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter worth $782,000. Finally, Fortis Capital Management LLC grew its holdings in shares of AbbVie by 10.7% in the 3rd quarter. Fortis Capital Management LLC now owns 8,313 shares of the company’s stock worth $1,239,000 after acquiring an additional 803 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Truist Financial lifted their price objective on AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.14.

Insider Activity

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Perry C. Siatis sold 13,753 shares of AbbVie stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $177.51, for a total transaction of $2,441,295.03. Following the transaction, the executive vice president now directly owns 28,173 shares in the company, valued at $5,000,989.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,454 shares of company stock valued at $58,595,955. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

NYSE ABBV traded down $3.29 during trading on Wednesday, reaching $159.64. 6,904,470 shares of the company traded hands, compared to its average volume of 5,527,939. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The stock’s 50 day moving average price is $169.22 and its two-hundred day moving average price is $163.00. The company has a market cap of $281.90 billion, a price-to-earnings ratio of 47.44, a P/E/G ratio of 2.08 and a beta of 0.61. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBV) 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. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 EPS. As a group, analysts anticipate that AbbVie Inc. will post 11.26 EPS for the current year.

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.