AbbVie Inc. (NYSE:ABBV) Stock Holdings Increased by Waverly Advisors LLC

Waverly Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,340 shares of the company’s stock after buying an additional 15,383 shares during the quarter. Waverly Advisors LLC’s holdings in AbbVie were worth $20,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Fiduciary Advisors Inc. bought a new stake in AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of AbbVie during the fourth quarter valued at approximately $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ABBV shares. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald started coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insider Activity

In related news, EVP Perry C. Siatis sold 5,778 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at approximately $4,429,199.90. The trade was a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 over the last three months. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.9%

Shares of AbbVie stock opened at $185.64 on Tuesday. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a market capitalization of $327.92 billion, a PE ratio of 77.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock’s fifty day moving average is $190.77 and its 200-day moving average is $186.73.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the business posted $2.31 earnings per share. AbbVie’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

AbbVie Company 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.