Archer Investment Corp Grows Stake in AbbVie Inc. (NYSE:ABBV)

Archer Investment Corp boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, Holdings Channel reports. The firm owned 8,053 shares of the company’s stock after buying an additional 140 shares during the period. Archer Investment Corp’s holdings in AbbVie were worth $1,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AMF Tjanstepension AB bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $8,777,000. West Financial Advisors LLC raised its stake in AbbVie by 16.6% during the third quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after purchasing an additional 109 shares in the last quarter. CWM LLC lifted its position in AbbVie by 6.7% during the third quarter. CWM LLC now owns 245,019 shares of the company’s stock valued at $48,386,000 after purchasing an additional 15,388 shares during the last quarter. Wedmont Private Capital grew its stake in shares of AbbVie by 5.0% in the 3rd quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock worth $4,292,000 after buying an additional 1,051 shares in the last quarter. Finally, Adirondack Trust Co. increased its holdings in shares of AbbVie by 1.9% in the 3rd quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock worth $3,207,000 after buying an additional 301 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Trading Up 0.6 %

NYSE:ABBV opened at $192.95 on Friday. 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 firm has a 50-day simple moving average of $177.19 and a 200-day simple moving average of $185.43. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The firm has a market cap of $340.96 billion, a P/E ratio of 80.39, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 posted $2.79 EPS. Equities analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ABBV shares. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Finally, UBS Group raised their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

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.