20,958 Shares in AbbVie Inc. (NYSE:ABBV) Purchased by Four Tree Island Advisory LLC

Four Tree Island Advisory LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, HoldingsChannel reports. The fund acquired 20,958 shares of the company’s stock, valued at approximately $3,724,000. AbbVie accounts for approximately 2.6% of Four Tree Island Advisory LLC’s holdings, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. GGM Financials LLC increased its holdings in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the period. Dillon & Associates Inc. lifted its stake in shares of AbbVie by 0.8% in the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares during the period. Sunflower Bank N.A. increased its position in AbbVie by 0.4% during the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after purchasing an additional 53 shares during the period. Professional Financial Advisors LLC lifted its position in shares of AbbVie by 3.4% in the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after purchasing an additional 54 shares during the period. Finally, WFA Asset Management Corp increased its position in shares of AbbVie by 0.8% during the third quarter. WFA Asset Management Corp now owns 7,003 shares of the company’s stock worth $1,383,000 after buying an additional 55 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE ABBV opened at $190.67 on Monday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a 50-day simple moving average of $177.54 and a 200 day simple moving average of $185.69. The company has a market capitalization of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the prior year, the business earned $2.79 EPS. On average, research analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America reissued a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

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.