AbbVie Inc. (NYSE:ABBV) Shares Acquired by Pacific Center for Financial Services

Pacific Center for Financial Services grew its position in AbbVie Inc. (NYSE:ABBV) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,836 shares of the company’s stock after acquiring an additional 208 shares during the period. Pacific Center for Financial Services’ holdings in AbbVie were worth $504,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Crestline Management LP raised its position in shares of AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock valued at $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP grew its stake in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock valued at $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. grew its stake in AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock valued at $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group grew its stake in AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock valued at $3,190,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.7%

ABBV stock opened at $181.74 on Thursday. The company’s 50 day moving average price is $189.64 and its 200 day moving average price is $186.68. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The firm has a market capitalization of $321.02 billion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.31 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now owns 44,284 shares of the company’s stock, valued at $8,985,223.60. This represents a 40.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,693 shares of company stock worth $22,282,985. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley upped their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Citigroup reaffirmed a “neutral” rating and set a $205.00 price objective (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Bank of America upped their price objective on shares of AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

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.