Austin Private Wealth LLC Acquires 846 Shares of AbbVie Inc. (NYSE:ABBV)

Austin Private Wealth LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 21.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,763 shares of the company’s stock after purchasing an additional 846 shares during the quarter. Austin Private Wealth LLC’s holdings in AbbVie were worth $846,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. AMF Tjanstepension AB bought a new stake in shares of AbbVie in the 3rd quarter worth about $8,777,000. Czech National Bank increased its stake in AbbVie by 6.9% in the 3rd quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after buying an additional 23,320 shares during the period. Johnson & White Wealth Management LLC increased its stake in AbbVie by 4.1% in the 3rd quarter. Johnson & White Wealth Management LLC now owns 6,116 shares of the company’s stock worth $1,208,000 after buying an additional 242 shares during the period. Apella Capital LLC increased its stake in AbbVie by 6.6% in the 3rd quarter. Apella Capital LLC now owns 8,070 shares of the company’s stock worth $1,588,000 after buying an additional 501 shares during the period. Finally, Abacus Wealth Partners LLC increased its stake in AbbVie by 14.9% in the 3rd quarter. Abacus Wealth Partners LLC now owns 1,737 shares of the company’s stock worth $343,000 after buying an additional 225 shares during the period. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Citigroup cut their target price on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $183.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a 50 day simple moving average of $176.43 and a two-hundred day simple moving average of $184.84. The stock has a market cap of $324.98 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced 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 9.22% and a return on equity of 244.01%. During the same quarter last year, the firm earned $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 10.09 earnings per share for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie 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.