Lantern Wealth Advisors LLC Has $2.39 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Lantern Wealth Advisors LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,469 shares of the company’s stock after purchasing an additional 147 shares during the quarter. AbbVie accounts for 1.6% of Lantern Wealth Advisors LLC’s holdings, making the stock its 18th biggest holding. Lantern Wealth Advisors LLC’s holdings in AbbVie were worth $2,394,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Tallon Kerry Patrick bought a new position in AbbVie in the fourth quarter valued at about $309,000. Capital & Planning LLC boosted its stake in shares of AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after purchasing an additional 105 shares in the last quarter. Ameritas Advisory Services LLC boosted its stake in shares of AbbVie by 18.0% in the 4th quarter. Ameritas Advisory Services LLC now owns 23,936 shares of the company’s stock valued at $4,254,000 after purchasing an additional 3,657 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of AbbVie by 6.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 10,719 shares of the company’s stock valued at $1,905,000 after purchasing an additional 651 shares during the last quarter. Finally, Stillwater Capital Advisors LLC increased its position in AbbVie by 1.1% during the 4th quarter. Stillwater Capital Advisors LLC now owns 90,816 shares of the company’s stock worth $16,138,000 after purchasing an additional 1,018 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the 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 transaction, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s 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 owns 53,234 shares of the company’s stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last quarter. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James restated an “outperform” rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Guggenheim boosted their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Eight investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Stock Performance

ABBV stock opened at $185.64 on Tuesday. The firm has a market cap of $327.92 billion, a PE ratio of 77.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day moving average price of $190.77 and a 200-day moving average price of $186.73. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. The business 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%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share 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.