Glen Eagle Advisors LLC Increases Stake in AbbVie Inc. (NYSE:ABBV)

Glen Eagle Advisors LLC lifted its position in AbbVie Inc. (NYSE:ABBV) by 4.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,107 shares of the company’s stock after purchasing an additional 830 shares during the period. Glen Eagle Advisors LLC’s holdings in AbbVie were worth $3,395,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ABBV. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the 4th 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 period. Promus Capital LLC purchased a new position in AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at about $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock valued at $23,426,451. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ABBV. Cantor Fitzgerald began coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Wells Fargo & Company raised their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Finally, StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

AbbVie Stock Performance

Shares of ABBV opened at $184.75 on Wednesday. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The business has a fifty day moving average of $190.24 and a 200 day moving average of $186.71. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $326.34 billion, a P/E ratio of 76.98, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the firm posted $2.31 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

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.