Latitude Advisors LLC Acquires 9,783 Shares of AbbVie Inc. (NYSE:ABBV)

Latitude Advisors LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 380.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,354 shares of the company’s stock after buying an additional 9,783 shares during the period. AbbVie makes up approximately 1.2% of Latitude Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Latitude Advisors LLC’s holdings in AbbVie were worth $2,195,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ABBV. AMF Tjanstepension AB acquired a new position in shares of AbbVie during the 3rd quarter worth $8,777,000. Carnegie Investment Counsel raised its stake in AbbVie by 3.4% during the third quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock worth $7,589,000 after acquiring an additional 1,252 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in shares of AbbVie by 3.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 2,609 shares of the company’s stock worth $515,000 after acquiring an additional 78 shares during the last quarter. Willis Investment Counsel bought a new stake in shares of AbbVie during the 3rd quarter valued at approximately $225,000. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in AbbVie by 2.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 172,566 shares of the company’s stock worth $34,078,000 after purchasing an additional 3,902 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ABBV. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Truist Financial lifted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five investment 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 stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Down 0.2 %

NYSE:ABBV opened at $190.31 on Tuesday. The firm has a fifty day simple moving average of $177.54 and a two-hundred day simple moving average of $185.75. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a market capitalization of $336.30 billion, a price-to-earnings ratio of 79.29, a PEG ratio of 1.53 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly 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 return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the company earned $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.32 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.