Strategic Wealth Partners Ltd. Buys 4,343 Shares of AbbVie Inc. (NYSE:ABBV)

Strategic Wealth Partners Ltd. raised its stake in AbbVie Inc. (NYSE:ABBV) by 11.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,550 shares of the company’s stock after acquiring an additional 4,343 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in AbbVie were worth $8,038,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $4,459,385,000. Raymond James Financial Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at about $1,190,951,000. FMR LLC grew its stake in shares of AbbVie by 32.8% in the fourth quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after acquiring an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Finally, Franklin Resources Inc. raised its stake in AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now 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. Over the last 90 days, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 1.3%

Shares of NYSE:ABBV opened at $184.02 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a market capitalization of $325.06 billion, a PE ratio of 76.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a fifty day moving average of $191.30 and a 200-day moving average of $186.97.

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

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. Citigroup reiterated a “neutral” rating and issued a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday. BNP Paribas upgraded AbbVie to a “hold” rating in a research note on Thursday, May 8th. BMO Capital Markets upped their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, April 28th. Eight equities research 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 stock. Based on data from MarketBeat.com, the company currently 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.