SGL Investment Advisors Inc. Purchases Shares of 1,261 AbbVie Inc. (NYSE:ABBV)

SGL Investment Advisors Inc. acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,261 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter valued at $29,000. EnRich Financial Partners LLC boosted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of AbbVie in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 2.3%

NYSE:ABBV opened at $181.52 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm has a market capitalization of $321.10 billion, a price-to-earnings ratio of 75.63, a PEG ratio of 1.62 and a beta of 0.56. The business’s 50-day moving average price is $191.89 and its two-hundred day moving average price is $187.11.

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

Insider Buying and Selling at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of AbbVie stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. The trade was a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABBV. UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Truist Financial boosted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Guggenheim raised their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

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.