Inlet Private Wealth LLC Has $3.01 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Inlet Private Wealth LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 3.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,954 shares of the company’s stock after purchasing an additional 487 shares during the period. Inlet Private Wealth LLC’s holdings in AbbVie were worth $3,013,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC bought a new stake in AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $183.90 on Friday. The company has a market capitalization of $324.98 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a 50-day simple moving average of $176.57 and a 200 day simple moving average of $184.95.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same period in the prior year, the firm posted $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 10.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ABBV. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research report on Thursday, December 5th. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Finally, Piper Sandler Companies restated an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Five 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

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.