Able Wealth Management LLC Invests $33,000 in AbbVie Inc. (NYSE:ABBV)

Able Wealth Management LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 213 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors have also recently bought and sold shares of the stock. Wellington Wealth Strategies LLC. acquired a new position in AbbVie during the 4th quarter valued at about $878,000. Prospect Financial Services LLC bought a new position in AbbVie in the fourth quarter valued at approximately $247,000. Sunpointe LLC acquired a new stake in AbbVie during the 4th quarter worth $584,000. Voisard Asset Management Group Inc. bought a new stake in shares of AbbVie during the 4th quarter valued at $87,000. Finally, Taylor Financial Group Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at $231,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 1.2 %

NYSE:ABBV opened at $168.59 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a market cap of $297.71 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 2.13 and a beta of 0.60. The business has a 50 day moving average price of $163.56 and a two-hundred day moving average price of $165.80.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at $9,855,698.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BMO Capital Markets dropped their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Barclays lowered their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research note on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.21.

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.