Arcus Capital Partners LLC Purchases Shares of 4,404 AbbVie Inc. (NYSE:ABBV)

Arcus Capital Partners LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,404 shares of the company’s stock, valued at approximately $802,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Groupama Asset Managment increased its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC bought a new stake in AbbVie during the fourth quarter worth approximately $35,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $193.54 on Friday. The business’s fifty day moving average price is $178.24 and its two-hundred day moving average price is $185.91. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock has a market capitalization of $342.00 billion, a price-to-earnings ratio of 80.64, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 earnings per share. As a group, analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analyst Ratings Changes

ABBV has been the topic of several research analyst reports. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Morgan Stanley upped their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.