AbbVie Inc. (NYSE:ABBV) Shares Purchased by AXS Investments LLC

AXS Investments LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,530 shares of the company’s stock after buying an additional 307 shares during the period. AXS Investments LLC’s holdings in AbbVie were worth $1,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ABBV. BCU Wealth Advisors LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $746,000. BlackDiamond Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $266,000. WBI Investments LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $1,698,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of AbbVie by 9.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 4,242 shares of the company’s stock worth $657,000 after purchasing an additional 376 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in shares of AbbVie in the 4th quarter worth approximately $2,799,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Truist Financial raised their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald started coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $176.14.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s 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 directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. 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 the company’s 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 sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 330,454 shares of company stock valued at $58,595,955. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.8 %

NYSE:ABBV traded down $1.35 during trading hours on Thursday, hitting $158.26. 5,615,139 shares of the company’s stock traded hands, compared to its average volume of 5,507,599. The firm has a market cap of $279.47 billion, a P/E ratio of 47.29, a P/E/G ratio of 2.09 and a beta of 0.61. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. 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 fifty day moving average price is $168.81 and its two-hundred day moving average price is $162.98.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.46 earnings per share. On average, research analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current fiscal 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.