Avestar Capital LLC Has $2.29 Million Stake in AbbVie Inc. (NYSE:ABBV)

Avestar Capital LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,866 shares of the company’s stock after buying an additional 1,413 shares during the quarter. Avestar Capital LLC’s holdings in AbbVie were worth $2,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MGB Wealth Management LLC lifted its position in AbbVie by 3.8% in the fourth quarter. MGB Wealth Management LLC now owns 13,638 shares of the company’s stock worth $2,416,000 after purchasing an additional 493 shares during the period. Morris Financial Concepts Inc. lifted its holdings in shares of AbbVie by 7.0% during the 4th quarter. Morris Financial Concepts Inc. now owns 2,736 shares of the company’s stock worth $486,000 after acquiring an additional 179 shares during the period. Hemington Wealth Management boosted its position in shares of AbbVie by 6.3% during the 4th quarter. Hemington Wealth Management now owns 2,536 shares of the company’s stock valued at $450,000 after acquiring an additional 150 shares in the last quarter. McClarren Financial Advisors Inc. increased its stake in AbbVie by 8.9% in the fourth quarter. McClarren Financial Advisors Inc. now owns 770 shares of the company’s stock valued at $137,000 after acquiring an additional 63 shares during the period. Finally, Warren Street Wealth Advisors LLC raised its position in AbbVie by 49.4% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 3,044 shares of the company’s stock worth $541,000 after purchasing an additional 1,006 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Insider Transactions at AbbVie

In related 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 transaction of $310,032.00. Following the completion of the transaction, the senior vice president now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ABBV. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Raymond James reiterated an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Finally, Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of ABBV stock opened at $193.06 on Thursday. The firm has a market cap of $341.16 billion, a price-to-earnings ratio of 80.44, a PEG ratio of 1.53 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a 50-day moving average price of $177.91 and a 200 day moving average price of $185.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 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 firm posted $2.79 EPS. Research analysts expect that AbbVie Inc. will post 12.32 EPS for the current year.

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.