Hemington Wealth Management Raises Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Hemington Wealth Management boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,536 shares of the company’s stock after purchasing an additional 150 shares during the period. Hemington Wealth Management’s holdings in AbbVie were worth $450,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Atlanta Consulting Group Advisors LLC acquired a new stake in AbbVie during the third quarter valued at approximately $999,000. Saturna Capital Corp raised its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after buying an additional 560,808 shares in the last quarter. Everence Capital Management Inc. raised its stake in AbbVie by 41.3% during 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 stake in AbbVie by 9.5% during 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 in the last quarter. Finally, Avior Wealth Management LLC raised its stake in AbbVie by 23.5% during the third 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 in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

AbbVie Price Performance

ABBV opened at $193.06 on Thursday. The stock has a fifty day moving average of $177.91 and a 200-day moving average of $185.86. The firm has a market capitalization of $341.16 billion, a P/E 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.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $2.79 earnings per share. Equities analysts forecast that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ABBV shares. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. Raymond James reiterated an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Finally, BMO Capital Markets increased their price objective on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

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.