239 Shares in AbbVie Inc. (NYSE:ABBV) Bought by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 239 shares of the company’s stock, valued at approximately $37,000.

A number of other large investors have also made changes to their positions in the stock. Leo Wealth LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $2,915,000. Sivia Capital Partners LLC acquired a new stake in shares of AbbVie in the 4th quarter worth about $572,000. Spartan Planning & Wealth Management raised its stake in AbbVie by 295.2% during the 4th quarter. Spartan Planning & Wealth Management now owns 2,150 shares of the company’s stock valued at $333,000 after acquiring an additional 1,606 shares in the last quarter. Cove Private Wealth LLC acquired a new stake in AbbVie during the fourth quarter valued at approximately $426,000. Finally, SageView Advisory Group LLC raised its position in shares of AbbVie by 73.7% during the fourth quarter. SageView Advisory Group LLC now owns 22,298 shares of the company’s stock worth $3,677,000 after purchasing an additional 9,460 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $169.70 on Tuesday. 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 12-month low of $130.96 and a 12-month high of $182.89. The business has a 50-day simple moving average of $163.56 and a two-hundred day simple moving average of $166.18. The stock has a market cap of $299.67 billion, a PE ratio of 50.36, a PEG ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS 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 company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the prior year, the firm posted $2.46 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post 11.26 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on ABBV. Barclays reduced their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Cantor Fitzgerald initiated coverage on AbbVie in a report on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, HSBC upgraded 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. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.21.

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.