AbbVie Inc. (NYSE:ABBV) Stock Position Lifted by Morris Financial Concepts Inc.

Morris Financial Concepts Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.0% during the fourth quarter, Holdings Channel reports. The firm owned 2,736 shares of the company’s stock after buying an additional 179 shares during the period. Morris Financial Concepts Inc.’s holdings in AbbVie were worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new stake in AbbVie in the 3rd quarter valued at approximately $8,777,000. Creative Planning increased its position in AbbVie by 5.8% in the 3rd quarter. Creative Planning now owns 750,811 shares of the company’s stock valued at $147,086,000 after acquiring an additional 40,925 shares during the period. Swedbank AB increased its position in AbbVie by 0.3% in the 3rd quarter. Swedbank AB now owns 2,147,126 shares of the company’s stock valued at $424,014,000 after acquiring an additional 6,810 shares during the period. Luts & Greenleigh Group Inc. increased its position in AbbVie by 1.0% in the 3rd quarter. Luts & Greenleigh Group Inc. now owns 13,757 shares of the company’s stock valued at $2,717,000 after acquiring an additional 131 shares during the period. Finally, Magnus Financial Group LLC increased its position in AbbVie by 10.2% in the 3rd quarter. Magnus Financial Group LLC now owns 8,978 shares of the company’s stock valued at $1,773,000 after acquiring an additional 829 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

NYSE ABBV opened at $193.06 on Thursday. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The stock’s 50-day moving average is $177.91 and its two-hundred day moving average is $185.86. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $341.16 billion, a P/E ratio of 80.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Guggenheim raised their price objective on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley raised their price objective on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Transactions at AbbVie

In other 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 directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate 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.