Angeles Wealth Management LLC Purchases 1,201 Shares of AbbVie Inc. (NYSE:ABBV)

Angeles Wealth Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,268 shares of the company’s stock after acquiring an additional 1,201 shares during the quarter. Angeles Wealth Management LLC’s holdings in AbbVie were worth $2,535,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment increased its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the fourth quarter valued at approximately $35,000. Finally, Mizuho Securities Co. Ltd. boosted its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $190.67 on Monday. The company has a market cap of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock’s 50 day simple moving average is $177.54 and its two-hundred day simple moving average is $185.69. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its quarterly 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the business posted $2.79 EPS. Research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 6,983 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company boosted their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Guggenheim increased their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Five investment 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $208.35.

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.