AbbVie Inc. (NYSE:ABBV) Holdings Raised by Community Financial Services Group LLC

Community Financial Services Group LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,687 shares of the company’s stock after buying an additional 233 shares during the period. Community Financial Services Group LLC’s holdings in AbbVie were worth $477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie in the 3rd quarter worth about $999,000. Saturna Capital Corp grew its stake in shares of AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares in the last quarter. Everence Capital Management Inc. increased its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC increased its holdings in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after acquiring an additional 10,768 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Up 0.8 %

Shares of ABBV opened at $191.81 on Wednesday. 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 company has a 50-day simple moving average of $177.71 and a 200-day simple moving average of $185.81. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a market capitalization of $338.96 billion, a P/E ratio of 79.92, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 period last year, the firm posted $2.79 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ABBV. Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Wells Fargo & Company increased their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Citigroup raised their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by company insiders.

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.