AbbVie Inc. (NYSE:ABBV) Shares Acquired by Hartford Financial Management Inc.

Hartford Financial Management Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,191 shares of the company’s stock after acquiring an additional 191 shares during the period. Hartford Financial Management Inc.’s holdings in AbbVie were worth $4,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie during the third quarter valued at $999,000. Saturna Capital Corp raised its position in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. boosted its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC lifted its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other 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 sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ABBV shares. Truist Financial dropped their target price on AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Citigroup decreased their target price on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. UBS Group boosted their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Guggenheim upped their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Trading Up 0.2 %

Shares of ABBV stock opened at $175.54 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 twelve month low of $153.58 and a twelve month high of $207.32. The company’s 50-day moving average price is $176.37 and its 200-day moving average price is $184.90. The stock has a market cap of $310.21 billion, a price-to-earnings ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58.

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