Catalyst Financial Partners LLC Has $2.28 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Catalyst Financial Partners LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,832 shares of the company’s stock after buying an additional 363 shares during the period. Catalyst Financial Partners LLC’s holdings in AbbVie were worth $2,280,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Atlanta Consulting Group Advisors LLC bought a new position in AbbVie in the 3rd quarter valued at $999,000. Saturna Capital Corp grew its holdings in shares of AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ABBV. Guggenheim raised their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. BMO Capital Markets boosted their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Stock Up 0.3 %

AbbVie stock opened at $193.54 on Friday. The firm has a market capitalization of $342.00 billion, a price-to-earnings ratio of 80.64, a PEG ratio of 1.53 and a beta of 0.58. The company’s 50 day simple moving average is $178.24 and its 200 day simple moving average is $185.91. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32.

AbbVie (NYSE:ABBV) last announced 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 in the prior year, the firm earned $2.79 EPS. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.32 EPS 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.