AbbVie Inc. (NYSE:ABBV) Shares Bought by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 295.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,150 shares of the company’s stock after purchasing an additional 1,606 shares during the period. Spartan Planning & Wealth Management’s holdings in AbbVie were worth $333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cove Private Wealth LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $426,000. SageView Advisory Group LLC grew its holdings in shares of AbbVie by 73.7% in the 4th quarter. SageView Advisory Group LLC now owns 22,298 shares of the company’s stock worth $3,677,000 after acquiring an additional 9,460 shares during the period. Willner & Heller LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $1,234,000. Gerber LLC acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $600,000. Finally, Slagle Financial LLC grew its holdings in shares of AbbVie by 90.3% in the 4th quarter. Slagle Financial LLC now owns 12,548 shares of the company’s stock worth $1,945,000 after acquiring an additional 5,955 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 0.7 %

NYSE:ABBV opened at $169.70 on Tuesday. The business’s 50-day moving average is $163.56 and its two-hundred day moving average is $166.18. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89. The firm has a market capitalization of $299.67 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on ABBV. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. BMO Capital Markets lowered their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Cantor Fitzgerald began coverage on AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 target price on the stock. Barclays lowered their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.21.

Insider Buying and Selling at AbbVie

In other news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.