CAP Partners LLC Buys New Position in AbbVie Inc. (NYSE:ABBV)

CAP Partners LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 2,238 shares of the company’s stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie during the 4th quarter worth approximately $44,000. Core Wealth Advisors Inc. grew its holdings in AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC lifted its position in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after purchasing an additional 240 shares during the last quarter. Naples Money Management LLC acquired a new position in shares of AbbVie during the fourth quarter worth $53,000. Finally, Rakuten Securities Inc. acquired a new stake in AbbVie in the fourth quarter valued at $57,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 302,561 shares of company stock worth $53,645,658. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

Shares of ABBV traded down $1.20 during mid-day trading on Monday, hitting $157.06. The company’s stock had a trading volume of 3,691,700 shares, compared to its average volume of 5,511,255. The firm has a 50-day simple moving average of $167.51 and a 200 day simple moving average of $163.49. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The firm has a market capitalization of $277.35 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.01 and a beta of 0.61. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. Analysts predict that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the subject of several recent analyst reports. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Guggenheim lifted their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Raymond James boosted their target price on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.14.

AbbVie Company 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.