Northwest Bank & Trust Co Buys New Position in AbbVie Inc. (NYSE:ABBV)

Northwest Bank & Trust Co acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 786 shares of the company’s stock, valued at approximately $122,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. American National Bank raised its position in shares of AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,695 shares in the last quarter. AXS Investments LLC raised its position in shares of AbbVie by 3.3% during the 4th quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after acquiring an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in shares of AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC raised its position in shares of AbbVie by 33.4% during the 4th quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. raised its position in shares of AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock worth $3,936,000 after acquiring an additional 4,633 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ABBV shares. Barclays cut their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Guggenheim lifted their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Cantor Fitzgerald started coverage on AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Finally, BMO Capital Markets cut their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average target price of $178.21.

AbbVie Price Performance

Shares of AbbVie stock traded up $2.03 during trading on Friday, reaching $168.59. The company’s stock had a trading volume of 4,377,638 shares, compared to its average volume of 4,854,812. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 12-month low of $130.96 and a 12-month high of $182.89. The company has a market capitalization of $297.71 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60. The business has a 50 day moving average price of $163.56 and a 200-day moving average price of $165.80.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 11.26 EPS for the current year.

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.