AbbVie Inc. (NYSE:ABBV) Shares Purchased by Capital Investment Counsel LLC

Capital Investment Counsel LLC grew its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,700 shares of the company’s stock after acquiring an additional 229 shares during the quarter. AbbVie accounts for 1.6% of Capital Investment Counsel LLC’s portfolio, making the stock its 18th largest position. Capital Investment Counsel LLC’s holdings in AbbVie were worth $9,365,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment lifted its holdings in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the third quarter valued at approximately $28,000. Retirement Wealth Solutions LLC purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in 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. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ABBV shares. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a report on Tuesday, December 10th. Barclays lifted their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Citigroup dropped their price objective on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday. Finally, UBS Group boosted their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.1 %

Shares of AbbVie stock opened at $174.88 on Wednesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market capitalization of $309.04 billion, a PE ratio of 60.72, a P/E/G ratio of 1.68 and a beta of 0.58. 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 business has a 50-day moving average of $176.05 and a 200-day moving average of $184.94.

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