3,678 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,678 shares of the company’s stock, valued at approximately $692,000. AbbVie makes up approximately 1.5% of Sunbeam Capital Management LLC’s portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fiduciary Advisors Inc. purchased a new stake in AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC boosted its holdings in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC bought a new position in AbbVie in the 4th quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at approximately $32,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $183.51 on Friday. 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 company has a fifty day moving average of $188.39 and a 200-day moving average of $186.43. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a market capitalization of $324.15 billion, a P/E ratio of 76.46, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share 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 revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Raymond James restated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Citigroup restated a “neutral” rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Finally, Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,693 shares of company stock worth $22,282,985 in the last quarter. 0.25% of the stock is 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.