Abundance Wealth Counselors Acquires 172 Shares of AbbVie Inc. (NYSE:ABBV)

Abundance Wealth Counselors increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,287 shares of the company’s stock after buying an additional 172 shares during the period. AbbVie accounts for 0.6% of Abundance Wealth Counselors’ investment portfolio, making the stock its 24th biggest position. Abundance Wealth Counselors’ holdings in AbbVie were worth $2,894,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC bought a new position in shares of AbbVie in the third quarter worth $999,000. Saturna Capital Corp lifted its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. Everence Capital Management Inc. boosted its stake in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC grew its holdings in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

AbbVie Stock Up 4.7 %

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

AbbVie (NYSE:ABBV) last released 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 net margin of 9.22% and a return on equity of 244.01%. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Equities research analysts forecast that AbbVie Inc. will post 10.09 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. 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. Sanford C. Bernstein started coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $205.00.

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.