Stonebridge Financial Group LLC Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Stonebridge Financial Group LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,564 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Essex Financial Services Inc. boosted its holdings in shares of AbbVie by 2.7% during the 4th quarter. Essex Financial Services Inc. now owns 38,715 shares of the company’s stock valued at $6,880,000 after acquiring an additional 1,011 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of AbbVie by 20.7% during the fourth quarter. Summit Trail Advisors LLC now owns 29,476 shares of the company’s stock valued at $5,238,000 after purchasing an additional 5,053 shares in the last quarter. Sapient Capital LLC boosted its stake in shares of AbbVie by 1.3% during the fourth quarter. Sapient Capital LLC now owns 258,899 shares of the company’s stock valued at $46,006,000 after purchasing an additional 3,404 shares in the last quarter. Pineridge Advisors LLC grew its holdings in shares of AbbVie by 8.4% during the fourth quarter. Pineridge Advisors LLC now owns 1,020 shares of the company’s stock worth $181,000 after purchasing an additional 79 shares during the last quarter. Finally, Principle Wealth Partners LLC increased its stake in shares of AbbVie by 0.3% in the fourth quarter. Principle Wealth Partners LLC now owns 33,751 shares of the company’s stock valued at $5,998,000 after buying an additional 105 shares during the period. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. UBS Group lifted their target price 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. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Performance

Shares of AbbVie stock opened at $191.81 on Wednesday. The business has a 50-day simple moving average of $177.71 and a 200 day simple moving average of $185.81. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $338.96 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.53 and a beta of 0.58.

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