Elser Financial Planning Inc Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Elser Financial Planning Inc purchased a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,612 shares of the company’s stock, valued at approximately $464,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the fourth quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at $35,000. Finally, Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV opened at $190.67 on Monday. 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 Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The stock’s 50-day moving average is $177.54 and its 200-day moving average is $185.69. The stock has a market cap of $336.94 billion, a P/E ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business earned $2.79 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insiders Place Their Bets

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 value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ABBV. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five 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 MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $208.35.

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.