AbbVie Inc. (NYSE:ABBV) Shares Bought by First Affirmative Financial Network

First Affirmative Financial Network lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,166 shares of the company’s stock after buying an additional 395 shares during the period. First Affirmative Financial Network’s holdings in AbbVie were worth $918,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Abel Hall LLC boosted its stake in AbbVie by 7.0% during the 4th quarter. Abel Hall LLC now owns 2,605 shares of the company’s stock valued at $463,000 after purchasing an additional 171 shares during the period. Synergy Asset Management LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $1,576,000. Strategic Planning Group LLC boosted its position in shares of AbbVie by 4.6% during the fourth quarter. Strategic Planning Group LLC now owns 35,322 shares of the company’s stock worth $6,277,000 after buying an additional 1,563 shares during the period. Gries Financial LLC grew its holdings in AbbVie by 0.4% in the 4th quarter. Gries Financial LLC now owns 16,040 shares of the company’s stock worth $2,850,000 after buying an additional 62 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in AbbVie by 63.2% in the 4th quarter. New England Research & Management Inc. now owns 21,372 shares of the company’s stock valued at $3,798,000 after acquiring an additional 8,280 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ABBV shares. BMO Capital Markets lowered their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Piper Sandler Companies restated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Citigroup lowered their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.2 %

ABBV stock opened at $175.21 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 $176.22 and a 200 day simple moving average of $184.97. 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 firm has a market cap of $309.62 billion, a PE ratio of 60.84, a PEG 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 EPS 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%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

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.