Strategic Blueprint LLC Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Strategic Blueprint LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 10,283 shares of the company’s stock after acquiring an additional 179 shares during the period. Strategic Blueprint LLC’s holdings in AbbVie were worth $1,827,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Forsta AP Fonden boosted its position in shares of AbbVie by 1.3% during the fourth quarter. Forsta AP Fonden now owns 458,562 shares of the company’s stock worth $81,486,000 after buying an additional 5,800 shares during the period. Patton Fund Management Inc. purchased a new position in shares of AbbVie during the fourth quarter worth $5,058,000. Foster Victor Wealth Advisors LLC boosted its position in shares of AbbVie by 19.4% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 75,059 shares of the company’s stock worth $12,877,000 after buying an additional 12,214 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of AbbVie by 3.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,678,683 shares of the company’s stock worth $653,702,000 after buying an additional 112,925 shares during the period. Finally, Twelve Points Wealth Management LLC boosted its position in shares of AbbVie by 10.5% during the fourth quarter. Twelve Points Wealth Management LLC now owns 6,777 shares of the company’s stock worth $1,204,000 after buying an additional 642 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. UBS Group lifted their target price on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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. Wells Fargo & Company lifted their target price on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Five research 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 MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Stock Performance

NYSE ABBV opened at $175.21 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 52-week low of $153.58 and a 52-week high of $207.32. The business’s 50-day moving average price is $176.22 and its 200 day moving average price is $184.97. The firm has a market cap of $309.62 billion, a P/E ratio of 60.84, a P/E/G ratio of 1.68 and a beta of 0.58.

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