3,144 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Sovran Advisors LLC

Sovran Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The fund bought 3,144 shares of the company’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AMF Tjanstepension AB purchased a new position in AbbVie during the 3rd quarter worth approximately $8,777,000. Creative Planning boosted its position in shares of AbbVie by 5.8% in the third quarter. Creative Planning now owns 750,811 shares of the company’s stock worth $147,086,000 after buying an additional 40,925 shares during the period. Swedbank AB grew its holdings in shares of AbbVie by 0.3% during the third quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after buying an additional 6,810 shares in the last quarter. Luts & Greenleigh Group Inc. raised its position in AbbVie by 1.0% during the third quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock valued at $2,717,000 after buying an additional 131 shares during the period. Finally, Magnus Financial Group LLC raised its position in AbbVie by 10.2% during the third quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock valued at $1,773,000 after buying an additional 829 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $193.06 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a fifty day simple moving average of $177.91 and a 200 day simple moving average of $185.86. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market cap of $341.16 billion, a P/E ratio of 80.44, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results 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 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the firm earned $2.79 EPS. On average, sell-side analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 target price on the stock. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. cut their target price 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 boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. 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’s stock. 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 Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

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.