Flavin Financial Services Inc. Makes New $348,000 Investment in AbbVie Inc. (NYSE:ABBV)

Flavin Financial Services Inc. bought a new position in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,960 shares of the company’s stock, valued at approximately $348,000.

A number of other hedge funds have also bought and sold shares of ABBV. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter worth approximately $35,000. Finally, Marquette Asset Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of NYSE ABBV opened at $190.20 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a market cap of $336.12 billion, a PE ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. The business has a 50-day simple moving average of $176.57 and a two-hundred day simple moving average of $185.13.

AbbVie (NYSE:ABBV) last announced its quarterly 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 period in the previous year, the firm earned $2.79 EPS. As a group, equities analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $172.24, for a total value 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 $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 Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABBV shares. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Piper Sandler raised their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Morgan Stanley raised their price target on AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Five equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.