Arlington Trust Co LLC Buys 100 Shares of AbbVie Inc. (NYSE:ABBV)

Arlington Trust Co LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,778 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Arlington Trust Co LLC’s holdings in AbbVie were worth $1,204,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ABBV. AMF Tjanstepension AB purchased a new stake in shares of AbbVie in the third quarter valued at approximately $8,777,000. Fiduciary Financial Group LLC purchased a new stake in shares of AbbVie in the third quarter valued at approximately $283,000. Montis Financial LLC purchased a new stake in shares of AbbVie in the third quarter valued at approximately $522,000. Cardinal Capital Management Inc. boosted its holdings in shares of AbbVie by 0.3% in the third 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 during the period. Finally, Carnegie Investment Counsel boosted its holdings in shares of AbbVie by 3.4% in the third quarter. Carnegie Investment Counsel now owns 38,431 shares of the company’s stock valued at $7,589,000 after purchasing an additional 1,252 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ABBV. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Thursday, December 5th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Performance

Shares of ABBV opened at $190.67 on Monday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The stock has a fifty day moving average price of $177.54 and a 200-day moving average price of $185.69. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market cap of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $2.79 earnings per share. Equities research analysts predict that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.