Twelve Points Wealth Management LLC Has $1.20 Million Position in AbbVie Inc. (NYSE:ABBV)

Twelve Points Wealth Management LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,777 shares of the company’s stock after purchasing an additional 642 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in AbbVie were worth $1,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter worth $28,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors own 70.23% of the company’s stock.

Insider Activity

In other 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 transaction of $310,032.00. Following the sale, the senior vice president now 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Citigroup decreased their price target on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday. UBS Group raised their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Price Performance

ABBV stock opened at $174.88 on Wednesday. The stock has a market capitalization of $309.04 billion, a price-to-earnings ratio of 60.72, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm’s 50-day moving average price is $176.05 and its two-hundred day moving average price is $184.94. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc. will post 10.06 earnings per share for the current year.

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.