AbbVie Inc. (NYSE:ABBV) Position Boosted by McClarren Financial Advisors Inc.

McClarren Financial Advisors Inc. raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 8.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 770 shares of the company’s stock after acquiring an additional 63 shares during the period. McClarren Financial Advisors Inc.’s holdings in AbbVie were worth $137,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ABBV. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $193.06 on Thursday. The business’s 50-day moving average is $177.91 and its 200-day moving average is $185.86. 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 company has a market capitalization of $341.16 billion, a price-to-earnings ratio of 80.44, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the business posted $2.79 earnings per share. Equities research analysts expect that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % 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. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research reports. Raymond James reaffirmed 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. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Guggenheim increased their target price on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

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.