Archer Investment Corp Buys 140 Shares of AbbVie Inc. (NYSE:ABBV)

Archer Investment Corp lifted its position in AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,053 shares of the company’s stock after purchasing an additional 140 shares during the period. Archer Investment Corp’s holdings in AbbVie were worth $1,431,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ABBV. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $35,000. Mizuho Securities Co. Ltd. boosted its stake in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of AbbVie during the third quarter valued at about $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ABBV has been the subject of several research analyst reports. Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price for the company. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

Shares of ABBV opened at $192.95 on Friday. The firm has a market cap of $340.96 billion, a PE ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 1-year low of $153.58 and a 1-year 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 firm has a fifty day simple moving average of $177.19 and a two-hundred day simple moving average of $185.43.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the company posted $2.79 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

AbbVie Company 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.