Allen Capital Group LLC Raises Stake in AbbVie Inc. (NYSE:ABBV)

Allen Capital Group LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,778 shares of the company’s stock after acquiring an additional 337 shares during the quarter. Allen Capital Group LLC’s holdings in AbbVie were worth $494,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the third quarter worth about $28,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ABBV. Wells Fargo & Company boosted their target price on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Finally, Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.2 %

ABBV stock opened at $175.21 on Thursday. The stock has a market capitalization of $309.62 billion, a P/E ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58. The company has a 50 day moving average price of $176.22 and a two-hundred day moving average price of $184.97. AbbVie Inc. has a one year low of $153.58 and a one year 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.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $2.95 EPS. As a group, sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current year.

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.