AbbVie Inc. (NYSE:ABBV) Shares Purchased by KFA Private Wealth Group LLC

KFA Private Wealth Group LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 12.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,935 shares of the company’s stock after acquiring an additional 217 shares during the period. KFA Private Wealth Group LLC’s holdings in AbbVie were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Matrix Asset Advisors Inc. NY grew its position in AbbVie by 2.7% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 104,029 shares of the company’s stock worth $18,486,000 after purchasing an additional 2,768 shares during the period. Curbstone Financial Management Corp grew its position in AbbVie by 1.5% during the 4th quarter. Curbstone Financial Management Corp now owns 10,699 shares of the company’s stock worth $1,901,000 after purchasing an additional 156 shares during the period. Revolve Wealth Partners LLC grew its position in AbbVie by 72.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company’s stock worth $1,294,000 after purchasing an additional 3,064 shares during the period. Griffin Asset Management Inc. grew its position in AbbVie by 1.3% during the 4th quarter. Griffin Asset Management Inc. now owns 81,656 shares of the company’s stock worth $14,510,000 after purchasing an additional 1,074 shares during the period. Finally, YHB Investment Advisors Inc. grew its position in AbbVie by 10.1% during the 4th quarter. YHB Investment Advisors Inc. now owns 36,686 shares of the company’s stock worth $6,519,000 after purchasing an additional 3,352 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ABBV. BMO Capital Markets cut their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. TD Cowen increased their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Truist Financial cut their price target on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Trading Down 1.1 %

Shares of AbbVie stock opened at $174.88 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50-day moving average price is $176.05 and its 200 day moving average price is $184.94. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The firm has a market capitalization of $309.04 billion, a PE ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the company posted $2.95 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

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.