AbbVie Inc. (NYSE:ABBV) Shares Purchased by Cassia Capital Partners LLC

Cassia Capital Partners LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 38.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,058 shares of the company’s stock after acquiring an additional 1,671 shares during the period. AbbVie accounts for approximately 0.7% of Cassia Capital Partners LLC’s portfolio, making the stock its 24th largest position. Cassia Capital Partners LLC’s holdings in AbbVie were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. 1858 Wealth Management LLC grew its position in shares of AbbVie by 9.2% during the fourth quarter. 1858 Wealth Management LLC now owns 4,523 shares of the company’s stock worth $804,000 after acquiring an additional 381 shares during the last quarter. Tanager Wealth Management LLP boosted its stake in AbbVie by 20.5% during the 4th quarter. Tanager Wealth Management LLP now owns 3,507 shares of the company’s stock worth $623,000 after purchasing an additional 596 shares during the period. James J. Burns & Company LLC grew its position in AbbVie by 29.0% during the 4th quarter. James J. Burns & Company LLC now owns 1,766 shares of the company’s stock worth $313,000 after purchasing an additional 397 shares during the last quarter. Mather Group LLC. increased its stake in AbbVie by 3.3% in the fourth quarter. Mather Group LLC. now owns 29,734 shares of the company’s stock valued at $5,284,000 after purchasing an additional 950 shares during the period. Finally, Stephens Consulting LLC raised its holdings in shares of AbbVie by 41.6% in the fourth quarter. Stephens Consulting LLC now owns 2,461 shares of the company’s stock valued at $437,000 after buying an additional 723 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of ABBV stock opened at $189.97 on Wednesday. The stock has a market cap of $335.71 billion, a P/E ratio of 79.16, a P/E/G 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 fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business has a fifty day simple moving average of $176.84 and a 200-day simple moving average of $185.26.

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 quarter in the previous year, the company earned $2.79 EPS. On average, analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ABBV. BMO Capital Markets boosted their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America reaffirmed a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Raymond James restated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.