1,620 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by Trace Wealth Advisors LLC

Trace Wealth Advisors LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,620 shares of the company’s stock, valued at approximately $288,000.

A number of other institutional investors have also made changes to their positions in ABBV. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie in the 4th quarter valued at $1,190,951,000. FMR LLC grew its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company’s stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock valued at $4,875,401,000 after buying an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company’s stock valued at $3,064,773,000 after buying an additional 3,373,156 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last ninety days. 0.25% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ABBV. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Cantor Fitzgerald began coverage on AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price on the stock. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Raymond James reissued an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Price Performance

AbbVie stock opened at $184.02 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market capitalization of $325.06 billion, a PE ratio of 76.68, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock has a 50-day moving average price of $191.30 and a two-hundred day moving average price of $186.97.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $2.31 earnings per share. Analysts expect that AbbVie Inc. will post 12.31 EPS 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.