Chicago Partners Investment Group LLC Boosts Holdings in AbbVie Inc. (NYSE:ABBV)

Chicago Partners Investment Group LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,890 shares of the company’s stock after buying an additional 4,199 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in AbbVie were worth $6,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Waldron Private Wealth LLC boosted its holdings in shares of AbbVie by 11.7% during the 4th quarter. Waldron Private Wealth LLC now owns 37,602 shares of the company’s stock valued at $6,682,000 after purchasing an additional 3,930 shares during the last quarter. Brown Financial Advisory increased its stake in AbbVie by 8.8% in the 4th quarter. Brown Financial Advisory now owns 1,920 shares of the company’s stock worth $341,000 after acquiring an additional 155 shares during the last quarter. Clear Creek Financial Management LLC raised its holdings in shares of AbbVie by 15.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 3,904 shares of the company’s stock worth $694,000 after acquiring an additional 537 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of AbbVie during the 4th quarter valued at approximately $952,000. Finally, Austin Private Wealth LLC grew its holdings in shares of AbbVie by 21.6% in the fourth quarter. Austin Private Wealth LLC now owns 4,763 shares of the company’s stock valued at $846,000 after purchasing an additional 846 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 4.7 %

AbbVie stock opened at $183.90 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The firm has a market capitalization of $324.98 billion, a P/E ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58. 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 stock’s fifty day simple moving average is $176.43 and its 200-day simple moving average is $184.84.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same period in the previous year, the firm posted $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 10.09 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ABBV shares. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price objective on shares of AbbVie in a research report on Tuesday, December 17th. Wolfe Research began coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Barclays raised their price target on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Company 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.