MGB Wealth Management LLC Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

MGB Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,638 shares of the company’s stock after purchasing an additional 493 shares during the period. AbbVie accounts for approximately 0.7% of MGB Wealth Management LLC’s investment portfolio, making the stock its 25th largest holding. MGB Wealth Management LLC’s holdings in AbbVie were worth $2,416,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB purchased a new stake in AbbVie during the third quarter valued at approximately $8,777,000. Creative Planning increased its position in shares of AbbVie by 5.8% during the third quarter. Creative Planning now owns 750,811 shares of the company’s stock worth $147,086,000 after purchasing an additional 40,925 shares in the last quarter. Swedbank AB increased its position in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock worth $424,014,000 after purchasing an additional 6,810 shares in the last quarter. Luts & Greenleigh Group Inc. lifted its holdings in shares of AbbVie by 1.0% during the 3rd quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock valued at $2,717,000 after purchasing an additional 131 shares during the last quarter. Finally, Magnus Financial Group LLC grew its stake in AbbVie by 10.2% during the 3rd quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock worth $1,773,000 after buying an additional 829 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

Shares of AbbVie stock opened at $193.06 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a 50-day moving average price of $177.91 and a 200 day moving average price of $185.86. The firm has a market cap of $341.16 billion, a PE ratio of 80.44, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the business earned $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ABBV. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

About AbbVie

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.