Tidemark LLC Invests $92,000 in AbbVie Inc. (NYSE:ABBV)

Tidemark LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 593 shares of the company’s stock, valued at approximately $92,000.

Several other large investors also recently bought and sold shares of the stock. WealthPlan Investment Management LLC increased its holdings in AbbVie by 664.4% in the third 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. Larson Financial Group LLC boosted its position in AbbVie by 26.9% during the third quarter. Larson Financial Group LLC now owns 2,530 shares of the company’s stock worth $377,000 after acquiring an additional 536 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in AbbVie during the third quarter worth approximately $214,000. Winthrop Advisory Group LLC boosted its position in AbbVie by 3.6% during the third quarter. Winthrop Advisory Group LLC now owns 3,562 shares of the company’s stock worth $531,000 after acquiring an additional 124 shares during the last quarter. Finally, NBC Securities Inc. acquired a new position in shares of AbbVie in the 3rd quarter valued at $3,183,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock traded up $0.08 on Thursday, hitting $159.69. 1,422,347 shares of the company’s stock traded hands, compared to its average volume of 5,485,556. AbbVie Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The stock has a market cap of $281.99 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.09 and a beta of 0.61. The stock has a fifty day moving average of $168.81 and a 200-day moving average of $162.98. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping 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 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 posted $2.46 EPS. The company’s revenue was up .7% on a year-over-year basis. On average, analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Kevin K. Buckbee sold 5,144 shares of AbbVie stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction on 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 completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. In the last 90 days, insiders sold 330,454 shares of company stock valued at $58,595,955. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James lifted their price target on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Truist Financial boosted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective on the stock. William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Finally, BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.14.

AbbVie Company 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.