Golden State Wealth Management LLC Acquires Shares of 2,031 AbbVie Inc. (NYSE:ABBV)

Golden State Wealth Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the 4th quarter, Holdings Channel reports. The firm bought 2,031 shares of the company’s stock, valued at approximately $361,000.

A number of other institutional investors have also modified their holdings of ABBV. AMF Tjanstepension AB acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $8,777,000. WealthBridge Investment Counsel Inc. lifted its holdings in AbbVie by 0.5% in the third quarter. WealthBridge Investment Counsel Inc. now owns 36,746 shares of the company’s stock valued at $7,257,000 after acquiring an additional 195 shares during the period. Keeler & Nadler Financial Planning & Wealth Management purchased a new stake in shares of AbbVie during the 3rd quarter worth $226,000. Watts Gwilliam & Co. LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $3,110,000. Finally, Merrion Investment Management Co LLC increased its holdings in shares of AbbVie by 7.7% in the 3rd quarter. Merrion Investment Management Co LLC now owns 7,000 shares of the company’s stock valued at $1,382,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company’s 50 day simple moving average is $177.38 and its 200 day simple moving average is $185.48. The stock has a market capitalization of $336.94 billion, a PE ratio of 79.45, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $2.79 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 sale, the senior vice president now directly 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 this hyperlink. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

ABBV has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a report on Friday, November 22nd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a report on Thursday, December 5th. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.35.

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.