Main Street Financial Solutions LLC Buys 148 Shares of AbbVie Inc. (NYSE:ABBV)

Main Street Financial Solutions LLC raised its position in shares of AbbVie Inc. (NYSE:ABBVFree Report) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,433 shares of the company’s stock after acquiring an additional 148 shares during the period. Main Street Financial Solutions LLC’s holdings in AbbVie were worth $2,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Congress Asset Management Co. MA lifted its position in shares of AbbVie by 1.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 107,223 shares of the company’s stock valued at $15,983,000 after acquiring an additional 2,034 shares during the period. AIA Group Ltd bought a new stake in AbbVie during the third quarter worth about $1,222,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in AbbVie during the third quarter worth about $259,000. Telos Capital Management Inc. increased its holdings in AbbVie by 1.8% in the 3rd quarter. Telos Capital Management Inc. now owns 50,798 shares of the company’s stock valued at $7,572,000 after buying an additional 900 shares during the period. Finally, WealthPlan Investment Management LLC raised its position in shares of AbbVie by 664.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock valued at $8,466,000 after buying an additional 49,365 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Up 1.3 %

Shares of ABBV stock traded up $2.07 on Friday, hitting $166.42. The company had a trading volume of 5,152,176 shares, compared to its average volume of 5,284,928. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a market cap of $293.88 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.10 and a beta of 0.61. The stock’s 50-day moving average is $169.88 and its two-hundred day moving average is $162.56.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter last year, the business earned $2.46 EPS. The company’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ABBV shares. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Friday. They issued an “overweight” rating and a $200.00 price objective on the stock. Truist Financial boosted their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Barclays dropped their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average target price of $176.14.

View Our Latest Report on ABBV

About AbbVie

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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