Heck Capital Advisors LLC Takes $952,000 Position in AbbVie Inc. (NYSE:ABBV)

Heck Capital Advisors LLC purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 5,358 shares of the company’s stock, valued at approximately $952,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Leigh Baldwin & CO. LLC purchased a new position in shares of AbbVie during the fourth quarter worth about $309,000. Armis Advisers LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $436,000. Integrated Advisors Network LLC boosted its stake in shares of AbbVie by 0.5% during the fourth quarter. Integrated Advisors Network LLC now owns 42,602 shares of the company’s stock valued at $7,570,000 after purchasing an additional 208 shares during the period. Garde Capital Inc. boosted its stake in shares of AbbVie by 17.6% during the fourth quarter. Garde Capital Inc. now owns 1,335 shares of the company’s stock valued at $237,000 after purchasing an additional 200 shares during the period. Finally, Hall Capital Management Co. Inc. purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $2,841,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ABBV. Guggenheim raised their price target on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, Erste Group Bank raised shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’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 sale, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,693 shares of company stock worth $22,282,985 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Up 0.5%

ABBV opened at $183.51 on Monday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm’s fifty day moving average is $188.39 and its 200 day moving average is $186.23. The stock has a market cap of $324.15 billion, a price-to-earnings ratio of 76.46, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

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

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.