DSG Capital Advisors LLC Purchases Shares of 18,081 AbbVie Inc. (NYSE:ABBV)

DSG Capital Advisors LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The firm acquired 18,081 shares of the company’s stock, valued at approximately $3,213,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ABBV. Tallon Kerry Patrick acquired a new position in shares of AbbVie in the 4th quarter valued at about $309,000. Capital & Planning LLC boosted its holdings in AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after acquiring an additional 105 shares during the period. LaFleur & Godfrey LLC increased its position in AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock worth $14,109,000 after buying an additional 3,108 shares during the period. Brighton Jones LLC grew its position in AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company’s stock worth $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of AbbVie in the 4th quarter worth approximately $127,000. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the subject of a number of recent research reports. Bank of America increased their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Citigroup restated a “neutral” rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. BMO Capital Markets raised their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Evercore ISI upped their price objective on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. Eight 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 company’s stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average target price of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were 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 of the company’s stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

AbbVie Stock Performance

NYSE ABBV opened at $185.52 on Wednesday. The stock has a market capitalization of $327.70 billion, a price-to-earnings ratio of 77.30, a PEG 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 business’s 50 day moving average is $187.30 and its two-hundred day moving average is $186.11. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last announced its earnings results 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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm 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 company posted $2.31 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

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.