Abel Hall LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Abel Hall LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,242 shares of the company’s stock, valued at approximately $657,000. AbbVie comprises about 0.6% of Abel Hall LLC’s investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds have also modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $26,000. Able Wealth Management LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $33,000. Clarity Asset Management Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $42,000. DiNuzzo Private Wealth Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $44,000. Finally, Clear Investment Research LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $48,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.2 %

AbbVie stock traded up $2.03 during mid-day trading on Friday, reaching $168.59. The company’s stock had a trading volume of 4,377,638 shares, compared to its average volume of 4,854,812. The company has a market capitalization of $297.71 billion, a price-to-earnings ratio of 50.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The business’s 50 day simple moving average is $163.56 and its 200 day simple moving average is $165.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm posted $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. As a group, research analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on ABBV. Guggenheim increased their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Cantor Fitzgerald began coverage on shares of AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $178.21.

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.