Avidian Wealth Enterprises LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Avidian Wealth Enterprises LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,298 shares of the company’s stock after purchasing an additional 276 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in AbbVie were worth $2,896,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Great Lakes Retirement Inc. bought a new position in shares of AbbVie during the 4th quarter valued at $216,000. Kentucky Trust Co purchased a new stake in AbbVie during the fourth quarter valued at $1,260,000. Capital Advisors Inc. OK increased its position in AbbVie by 1.6% during the fourth quarter. Capital Advisors Inc. OK now owns 335,011 shares of the company’s stock valued at $59,531,000 after acquiring an additional 5,119 shares during the last quarter. Certuity LLC lifted its holdings in AbbVie by 82.8% in the fourth quarter. Certuity LLC now owns 11,964 shares of the company’s stock valued at $2,126,000 after acquiring an additional 5,418 shares during the period. Finally, Community Financial Services Group LLC boosted its position in AbbVie by 9.5% in the fourth quarter. Community Financial Services Group LLC now owns 2,687 shares of the company’s stock worth $477,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

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 dated 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 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABBV shares. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. 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. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Up 0.8 %

NYSE ABBV opened at $191.81 on Wednesday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 stock has a market cap of $338.96 billion, a PE ratio of 79.92, a P/E/G ratio of 1.53 and a beta of 0.58. The stock’s 50 day moving average is $177.71 and its 200 day moving average is $185.81.

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

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.