AbbVie Inc. (NYSE:ABBV) Shares Purchased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 664.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 56,795 shares of the company’s stock after acquiring an additional 49,365 shares during the period. AbbVie accounts for about 1.0% of WealthPlan Investment Management LLC’s holdings, making the stock its 24th biggest holding. WealthPlan Investment Management LLC’s holdings in AbbVie were worth $8,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Goepper Burkhardt LLC increased its position in shares of AbbVie by 1.9% during the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock worth $567,000 after purchasing an additional 67 shares during the last quarter. Vantage Consulting Group Inc increased its position in shares of AbbVie by 4.2% during the 2nd quarter. Vantage Consulting Group Inc now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Syntax Advisors LLC increased its position in shares of AbbVie by 4.2% during the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. Clearwater Capital Advisors LLC grew its position in AbbVie by 3.9% in the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after acquiring an additional 69 shares in the last quarter. Finally, Founders Capital Management LLC grew its position in AbbVie by 0.3% in the 3rd quarter. Founders Capital Management LLC now owns 22,926 shares of the company’s stock valued at $3,417,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 67.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ABBV shares. BMO Capital Markets lifted their target price on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Raymond James lifted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. HSBC cut AbbVie from a “buy” rating to a “hold” rating and decreased their price objective for the company from $167.00 to $156.00 in a research note on Monday, December 18th. UBS Group decreased their price objective on AbbVie from $157.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. Finally, Morgan Stanley lifted their price objective on AbbVie from $193.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.47.

Get Our Latest Stock Report on AbbVie

AbbVie Trading Down 0.4 %

ABBV opened at $174.04 on Friday. The firm has a market cap of $313.27 billion, a price-to-earnings ratio of 63.75, a price-to-earnings-growth ratio of 2.22 and a beta of 0.57. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $175.91. The business’s 50 day moving average is $159.86 and its two-hundred day moving average is $151.17. The company has a quick ratio of 0.84, a current ratio of 0.96 and a debt-to-equity ratio of 4.59.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a return on equity of 154.73% and a net margin of 8.95%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 earnings per share. On average, research analysts predict that AbbVie Inc. will post 11.14 EPS for the current year.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 2,912 shares of AbbVie stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $8,649,312.16. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

AbbVie Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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