Walden Wealth Partners LLC Purchases New Shares in AbbVie Inc. (NYSE:ABBV)

Walden Wealth Partners LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,430 shares of the company’s stock, valued at approximately $222,000.

Other large investors also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of AbbVie during the fourth quarter worth $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in AbbVie in the fourth quarter valued at approximately $37,000. Clarity Asset Management Inc. bought a new position in AbbVie in the fourth quarter valued at approximately $42,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $44,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.7 %

Shares of ABBV stock opened at $169.70 on Tuesday. AbbVie Inc. has a 52-week low of $130.96 and a 52-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 stock has a market cap of $299.67 billion, a price-to-earnings ratio of 50.36, a PEG ratio of 2.16 and a beta of 0.60. The firm’s 50-day moving average is $163.56 and its 200-day moving average is $166.18.

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. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. Sell-side analysts predict that AbbVie Inc. will post 11.26 EPS for the current year.

Insider Activity

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s 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 transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ABBV shares. Guggenheim upped 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 began coverage on shares of AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. BMO Capital Markets lowered their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays reduced their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $178.21.

AbbVie Profile

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.