Eagle Ridge Investment Management Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Eagle Ridge Investment Management lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 69,581 shares of the company’s stock after purchasing an additional 311 shares during the period. Eagle Ridge Investment Management’s holdings in AbbVie were worth $12,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp increased its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. increased its stake in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC increased its stake in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

ABBV opened at $192.95 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market cap of $340.96 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The firm’s fifty day simple moving average is $177.19 and its two-hundred day simple moving average is $185.43.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $2.79 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ABBV shares. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated 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 of the company’s stock, 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 filing with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

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.