Gries Financial LLC Acquires 62 Shares of AbbVie Inc. (NYSE:ABBV)

Gries Financial LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,040 shares of the company’s stock after buying an additional 62 shares during the quarter. Gries Financial LLC’s holdings in AbbVie were worth $2,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter valued at $28,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the fourth quarter worth about $35,000. Marquette Asset Management LLC purchased a new position in AbbVie during the third quarter worth about $39,000. Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in AbbVie during the third quarter worth about $39,000. 70.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Citigroup lowered their price target on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Five research 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 company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Activity at AbbVie

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

AbbVie Stock Performance

Shares of ABBV stock opened at $175.21 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a fifty day moving average price of $176.22 and a 200 day moving average price of $184.97. The company has a market cap of $309.62 billion, a P/E ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

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

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.