AbbVie Inc. (NYSE:ABBV) Shares Purchased by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 4.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,990 shares of the company’s stock after purchasing an additional 1,086 shares during the period. Pinkerton Retirement Specialists LLC’s holdings in AbbVie were worth $4,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie during the fourth quarter worth about $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Down 1.7%

NYSE ABBV opened at $181.74 on Thursday. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The firm has a 50 day simple moving average of $189.64 and a 200-day simple moving average of $186.68. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The firm has a market cap of $321.02 billion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.62 and a beta of 0.56.

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

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,693 shares of company stock worth $22,282,985 over the last 90 days. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

ABBV has been the subject of several research analyst reports. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Truist Financial increased their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Bank of America increased their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $210.95.

About AbbVie

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.