AbbVie Inc. (NYSE:ABBV) Shares Purchased by Gladstone Institutional Advisory LLC

Gladstone Institutional Advisory LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,363 shares of the company’s stock after acquiring an additional 1,325 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in AbbVie were worth $3,466,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ABBV. DiNuzzo Private Wealth Inc. purchased a new stake in AbbVie in the fourth quarter valued at $44,000. Core Wealth Advisors Inc. lifted its holdings in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock valued at $52,000 after purchasing an additional 285 shares during the last quarter. Bourgeon Capital Management LLC grew its stake in AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after buying an additional 240 shares during the last quarter. Naples Money Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $53,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at approximately $57,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders sold a total of 383,324 shares of company stock valued at $67,780,003 over the last 90 days. Insiders own 0.25% of the company’s stock.

AbbVie Price Performance

ABBV traded down $1.18 on Monday, hitting $165.24. 863,209 shares of the company were exchanged, compared to its average volume of 5,510,089. The business’s fifty day moving average is $169.88 and its 200 day moving average is $162.70. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market capitalization of $291.79 billion, a P/E ratio of 49.23, a price-to-earnings-growth ratio of 2.10 and a beta of 0.61.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 11.27 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Raymond James increased their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald began coverage on AbbVie in a research report on Friday. They set an “overweight” rating and a $200.00 price objective for the company. Finally, Truist Financial upped their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.14.

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About AbbVie

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AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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