Summit Wealth & Retirement Planning Inc. Purchases 205 Shares of AbbVie Inc. (NYSE:ABBV)

Summit Wealth & Retirement Planning Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,455 shares of the company’s stock after purchasing an additional 205 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in AbbVie were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment grew its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the fourth quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several analyst reports. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Five investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Down 1.2 %

NYSE:ABBV opened at $190.67 on Friday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a 50-day moving average price of $177.54 and a two-hundred day moving average price of $185.60. 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 market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted 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 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the company posted $2.79 EPS. On average, equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 transaction, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

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.