Hodges Capital Management Inc. Has $7.28 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Hodges Capital Management Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 15.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 40,989 shares of the company’s stock after buying an additional 5,587 shares during the quarter. Hodges Capital Management Inc.’s holdings in AbbVie were worth $7,283,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Atlanta Consulting Group Advisors LLC acquired a new position in AbbVie during the 3rd quarter worth approximately $999,000. Saturna Capital Corp boosted its holdings in 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. boosted its holdings in AbbVie by 41.3% during the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC grew its position in 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 purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC increased its stake in AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ABBV. Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Citigroup decreased their price objective on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Five 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 stock. According to MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $206.55.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by insiders.

AbbVie Trading Up 4.7 %

Shares of AbbVie stock opened at $183.90 on Monday. The firm’s 50-day moving average price is $176.57 and its two-hundred day moving average price is $185.13. The company has a market capitalization of $324.98 billion, a price-to-earnings ratio of 76.63, a PEG ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business posted $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal 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.