McClarren Financial Advisors Inc. Buys 63 Shares of AbbVie Inc. (NYSE:ABBV)

McClarren Financial Advisors Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 770 shares of the company’s stock after purchasing an additional 63 shares during the quarter. McClarren Financial Advisors Inc.’s holdings in AbbVie were worth $137,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Groupama Asset Managment lifted 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 worth $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $35,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of 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 purchasing an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 0.6 %

Shares of ABBV stock opened at $193.06 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. The company has a market capitalization 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 Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The firm has a 50-day moving average price of $177.91 and a 200 day moving average price of $185.86.

AbbVie (NYSE:ABBV) last posted its 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 posted $2.79 earnings per share. Research analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ABBV shares. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Finally, Citigroup upped their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. 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 stock has an average 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 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

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.