Williams & Novak LLC Has $406,000 Stake in AbbVie Inc. (NYSE:ABBV)

Williams & Novak LLC grew its holdings in AbbVie Inc. (NYSE:ABBV) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,285 shares of the company’s stock after buying an additional 141 shares during the quarter. Williams & Novak LLC’s holdings in AbbVie were worth $406,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the third quarter worth $28,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of AbbVie by 100.0% in the 3rd 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 last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE:ABBV opened at $174.88 on Wednesday. The firm’s fifty day moving average price is $176.05 and its two-hundred day moving average price is $184.94. 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 cap of $309.04 billion, a P/E ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 earnings per share. Equities analysts expect that AbbVie Inc. will post 10.06 earnings per share for the current year.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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 $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.25% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. UBS Group boosted their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial lowered their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.00.

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.