AbbVie Inc. (NYSE:ABBV) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,014 shares of the company’s stock after buying an additional 5,839 shares during the quarter. AbbVie accounts for 1.1% of Global Wealth Management Investment Advisory Inc.’s portfolio, making the stock its 24th largest position. Global Wealth Management Investment Advisory Inc.’s holdings in AbbVie were worth $5,334,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AMF Tjanstepension AB purchased a new position in AbbVie in the 3rd quarter valued at about $8,777,000. Fiduciary Financial Group LLC acquired a new position in shares of AbbVie in the third quarter worth about $283,000. Montis Financial LLC purchased a new position in AbbVie in the third quarter valued at about $522,000. Cardinal Capital Management Inc. raised its position in shares of AbbVie by 0.3% in the 3rd quarter. Cardinal Capital Management Inc. now owns 197,427 shares of the company’s stock valued at $38,988,000 after purchasing an additional 588 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its stake in shares of AbbVie by 3.4% during the 3rd quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock valued at $7,589,000 after buying an additional 1,252 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.2 %

Shares of ABBV stock opened at $190.67 on Monday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The business’s fifty day moving average is $177.54 and its 200-day moving average is $185.69. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the firm earned $2.79 earnings per share. Equities analysts expect that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup boosted their price objective on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price objective on shares of AbbVie in a report on Tuesday, December 17th. Morgan Stanley increased their target price on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie 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.