AbbVie Inc. (NYSE:ABBV) Stake Raised by Beacon Financial Group

Beacon Financial Group increased its holdings in AbbVie Inc. (NYSE:ABBV) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,414 shares of the company’s stock after buying an additional 285 shares during the quarter. Beacon Financial Group’s holdings in AbbVie were worth $1,769,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie in the fourth quarter worth approximately $26,000. Able Wealth Management LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $33,000. Clarity Asset Management Inc. acquired a new position in shares of AbbVie in the 4th quarter worth approximately $42,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $44,000. Finally, Clear Investment Research LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $48,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

AbbVie Stock Performance

ABBV stock traded up $2.03 during trading on Friday, reaching $168.59. 4,377,638 shares of the stock were exchanged, compared to its average volume of 4,854,812. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $297.71 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The stock has a 50 day simple moving average of $163.56 and a 200-day simple moving average of $165.60.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price target for the company. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. BMO Capital Markets decreased their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $178.21.

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.