AbbVie Inc. (NYSE:ABBV) Shares Purchased by Montz Harcus Wealth Management LLC

Montz Harcus Wealth Management LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,204 shares of the company’s stock after purchasing an additional 245 shares during the period. Montz Harcus Wealth Management LLC’s holdings in AbbVie were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie in the 4th quarter valued at approximately $35,000. Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of AbbVie in the third quarter worth $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV stock opened at $191.81 on Wednesday. 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 company has a market capitalization of $338.96 billion, a P/E ratio of 79.92, a PEG ratio of 1.53 and a beta of 0.58. The business has a 50 day simple moving average of $177.71 and a 200-day simple moving average of $185.81. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 quarter last year, the firm posted $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler increased their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wolfe Research began coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.