AlphaStar Capital Management LLC Has $5.87 Million Position in AbbVie Inc. (NYSE:ABBV)

AlphaStar Capital Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 12.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,033 shares of the company’s stock after purchasing an additional 3,607 shares during the period. AbbVie accounts for 0.6% of AlphaStar Capital Management LLC’s portfolio, making the stock its 25th largest holding. AlphaStar Capital Management LLC’s holdings in AbbVie were worth $5,870,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of AbbVie by 19.6% in the fourth quarter. Empowered Funds LLC now owns 97,178 shares of the company’s stock valued at $17,269,000 after purchasing an additional 15,934 shares during the last quarter. Seelaus Asset Management LLC boosted its stake in AbbVie by 16.5% in the 4th quarter. Seelaus Asset Management LLC now owns 5,107 shares of the company’s stock valued at $908,000 after purchasing an additional 725 shares during the period. Counterweight Ventures LLC grew its holdings in AbbVie by 3.4% in the 4th quarter. Counterweight Ventures LLC now owns 20,271 shares of the company’s stock valued at $3,602,000 after buying an additional 675 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in AbbVie by 8.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 89,190 shares of the company’s stock worth $15,849,000 after buying an additional 6,967 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in shares of AbbVie by 11.6% during the fourth quarter. Apollon Wealth Management LLC now owns 79,230 shares of the company’s stock worth $14,079,000 after buying an additional 8,209 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Down 1.2 %

NYSE ABBV opened at $190.67 on Friday. 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 has a 50 day moving average price of $177.54 and a 200-day moving average price of $185.60. The company has a market cap of $336.94 billion, a price-to-earnings ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 last year, the company posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’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 value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Guggenheim raised their price target on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Citigroup boosted their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. 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. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 target price for the company. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

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.