Eagle Global Advisors LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Eagle Global Advisors LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 16.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the company’s stock after acquiring an additional 463 shares during the quarter. Eagle Global Advisors LLC’s holdings in AbbVie were worth $511,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Aspen Wealth Strategies LLC boosted its stake in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock worth $1,776,000 after acquiring an additional 61 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in AbbVie by 2.9% in the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock valued at $349,000 after buying an additional 63 shares in the last quarter. Avion Wealth lifted its stake in AbbVie by 11.9% in the 4th quarter. Avion Wealth now owns 612 shares of the company’s stock valued at $95,000 after buying an additional 65 shares in the last quarter. White Pine Capital LLC lifted its stake in AbbVie by 1.2% in the 4th quarter. White Pine Capital LLC now owns 5,498 shares of the company’s stock valued at $852,000 after buying an additional 65 shares in the last quarter. Finally, JNBA Financial Advisors lifted its stake in AbbVie by 0.7% in the 4th quarter. JNBA Financial Advisors now owns 9,208 shares of the company’s stock valued at $1,427,000 after buying an additional 66 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Raymond James raised 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. BMO Capital Markets decreased their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Truist Financial raised their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price on the stock. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $176.14.

AbbVie Trading Down 0.8 %

Shares of NYSE ABBV traded down $1.20 during midday trading on Friday, reaching $157.06. 3,691,730 shares of the stock were exchanged, compared to its average volume of 5,267,838. AbbVie Inc. has a twelve month low of $130.96 and a twelve month 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 company has a 50 day simple moving average of $167.94 and a 200 day simple moving average of $163.06. The stock has a market capitalization of $277.35 billion, a P/E ratio of 46.61, a PEG ratio of 2.03 and a beta of 0.61.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm earned $2.46 EPS. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of AbbVie stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s 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 completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,561 shares of company stock worth $53,645,658. Insiders own 0.25% of the company’s stock.

About AbbVie

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.