AbbVie Inc. (NYSE:ABBV) Shares Purchased by Concentric Wealth Management LLC

Concentric Wealth Management LLC grew its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,448 shares of the company’s stock after acquiring an additional 1,301 shares during the quarter. AbbVie comprises 2.0% of Concentric Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Concentric Wealth Management LLC’s holdings in AbbVie were worth $6,888,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Midland Wealth Advisors LLC purchased a new position in AbbVie in the fourth quarter valued at approximately $2,598,000. Pathstone Holdings LLC acquired a new stake in AbbVie during the 4th quarter valued at approximately $38,719,000. Kingfisher Capital LLC increased its holdings in AbbVie by 101.7% during the 4th quarter. Kingfisher Capital LLC now owns 19,825 shares of the company’s stock worth $3,072,000 after purchasing an additional 9,995 shares during the last quarter. Pitcairn Co. raised its position in shares of AbbVie by 2.9% in the 4th quarter. Pitcairn Co. now owns 37,561 shares of the company’s stock valued at $5,821,000 after purchasing an additional 1,058 shares in the last quarter. Finally, Orleans Capital Management Corp LA boosted its stake in shares of AbbVie by 2.4% during the 4th quarter. Orleans Capital Management Corp LA now owns 22,003 shares of the company’s stock valued at $3,410,000 after buying an additional 520 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

ABBV stock traded down $1.61 during mid-day trading on Wednesday, reaching $166.09. The company had a trading volume of 4,714,608 shares, compared to its average volume of 5,503,675. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The stock has a market capitalization of $293.29 billion, a P/E ratio of 49.29, a P/E/G ratio of 2.18 and a beta of 0.60. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The stock’s 50-day simple moving average is $163.62 and its two-hundred day simple moving average is $165.39.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc. will post 11.26 EPS for the current year.

Analyst Ratings Changes

ABBV has been the subject of a number of research analyst reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday, June 5th. BMO Capital Markets decreased their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Guggenheim boosted their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald initiated coverage on AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Finally, Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.21.

View Our Latest Stock Analysis on AbbVie

Insider Activity

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

About AbbVie

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.