Princeton Global Asset Management LLC Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Princeton Global Asset Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 29,932 shares of the company’s stock after acquiring an additional 273 shares during the period. AbbVie makes up about 1.0% of Princeton Global Asset Management LLC’s holdings, making the stock its 27th largest holding. Princeton Global Asset Management LLC’s holdings in AbbVie were worth $5,319,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Chicago Capital LLC raised its stake in shares of AbbVie by 0.6% in the fourth quarter. Chicago Capital LLC now owns 53,003 shares of the company’s stock valued at $9,419,000 after acquiring an additional 307 shares in the last quarter. HHM Wealth Advisors LLC raised its stake in AbbVie by 51.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 9,027 shares of the company’s stock valued at $1,604,000 after buying an additional 3,058 shares in the last quarter. CFM Wealth Partners LLC raised its stake in AbbVie by 3.5% in the fourth quarter. CFM Wealth Partners LLC now owns 21,955 shares of the company’s stock valued at $3,901,000 after buying an additional 752 shares in the last quarter. CENTRAL TRUST Co grew its holdings in shares of AbbVie by 1.4% during the fourth quarter. CENTRAL TRUST Co now owns 232,430 shares of the company’s stock worth $41,303,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Valley National Advisers Inc. grew its holdings in shares of AbbVie by 2.2% during the fourth quarter. Valley National Advisers Inc. now owns 5,105 shares of the company’s stock worth $907,000 after purchasing an additional 111 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. Piper Sandler raised their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Sanford C. Bernstein assumed coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Bank of America restated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Finally, BMO Capital Markets lowered their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.00.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 4.7 %

Shares of AbbVie stock opened at $183.90 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap 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. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business has a 50-day moving average price of $176.57 and a 200 day moving average price of $185.06.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same period last year, the company earned $2.79 earnings per share. On average, sell-side analysts forecast that AbbVie Inc. will post 10.09 earnings per share 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.