Bright Financial Advisors Inc. Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

Bright Financial Advisors Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 23.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,287 shares of the company’s stock after purchasing an additional 247 shares during the quarter. Bright Financial Advisors Inc.’s holdings in AbbVie were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie during the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at about $35,000. Mizuho Securities Co. Ltd. boosted its holdings in 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 acquiring an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in AbbVie during the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.6 %

Shares of NYSE ABBV opened at $192.95 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm has a market capitalization of $340.96 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. The stock has a 50 day moving average price of $177.38 and a 200 day moving average price of $185.48. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS 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 quarter in the prior year, the company posted $2.79 earnings per share. Sell-side analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ABBV. Piper Sandler increased their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wolfe Research initiated coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.

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.