Retirement Planning Group LLC Acquires 109 Shares of AbbVie Inc. (NYSE:ABBV)

Retirement Planning Group LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 4.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,714 shares of the company’s stock after acquiring an additional 109 shares during the quarter. Retirement Planning Group LLC’s holdings in AbbVie were worth $482,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in AbbVie in the fourth quarter valued at about $29,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC acquired a new position in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in AbbVie in the 4th quarter valued at $32,000. 70.23% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ABBV shares. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, April 28th. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Raymond James reissued an “outperform” rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Citigroup reiterated a “neutral” rating and issued a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.95.

AbbVie Stock Performance

Shares of AbbVie stock opened at $183.51 on Friday. The stock’s fifty day moving average is $188.39 and its two-hundred day moving average is $186.43. The company has a market capitalization of $324.15 billion, a PE ratio of 76.46, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the prior year, the business earned $2.31 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

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.