Kolinsky Wealth Management LLC Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Kolinsky Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,734 shares of the company’s stock after acquiring an additional 382 shares during the quarter. AbbVie accounts for approximately 0.7% of Kolinsky Wealth Management LLC’s portfolio, making the stock its 18th largest holding. Kolinsky Wealth Management LLC’s holdings in AbbVie were worth $1,197,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ABBV. Continuum Advisory LLC grew its holdings in shares of AbbVie by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 14,405 shares of the company’s stock worth $2,560,000 after purchasing an additional 96 shares during the last quarter. Ames National Corp bought a new position in shares of AbbVie during the fourth quarter valued at about $260,000. Glen Eagle Advisors LLC boosted its holdings in shares of AbbVie by 4.5% during the fourth quarter. Glen Eagle Advisors LLC now owns 19,107 shares of the company’s stock worth $3,395,000 after purchasing an additional 830 shares during the period. Kinloch Capital LLC grew its stake in shares of AbbVie by 4.2% in the fourth quarter. Kinloch Capital LLC now owns 19,323 shares of the company’s stock worth $3,434,000 after purchasing an additional 777 shares during the last quarter. Finally, Lantern Wealth Advisors LLC increased its holdings in AbbVie by 1.1% during the 4th quarter. Lantern Wealth Advisors LLC now owns 13,469 shares of the company’s stock valued at $2,394,000 after purchasing an additional 147 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Down 0.5%

Shares of AbbVie stock opened at $184.75 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The company’s 50 day moving average is $190.24 and its 200 day moving average is $186.71. The company has a market cap of $326.34 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.31 earnings per share. Research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ABBV. Citigroup reiterated a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Guggenheim lifted their price objective on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last quarter. 0.25% of the stock is currently owned by company insiders.

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.