Peapack Gladstone Financial Corp Has $30.86 Million Stock Position in AbbVie Inc. (NYSE:ABBV)

Peapack Gladstone Financial Corp lifted its position in AbbVie Inc. (NYSE:ABBVFree Report) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 199,132 shares of the company’s stock after buying an additional 1,305 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in AbbVie were worth $30,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. DiNuzzo Private Wealth Inc. bought a new position in shares of AbbVie in the 4th quarter valued at about $44,000. Clear Investment Research LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $48,000. Core Wealth Advisors Inc. grew its stake in shares of AbbVie by 459.7% during the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC grew its stake in shares of AbbVie by 240.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares in the last quarter. Finally, Naples Money Management LLC bought a new position in shares of AbbVie in the fourth quarter valued at $53,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Cantor Fitzgerald assumed 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. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Raymond James upped their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

Check Out Our Latest Stock Analysis on ABBV

AbbVie Trading Up 1.2 %

Shares of ABBV traded up $1.97 during mid-day trading on Tuesday, hitting $162.16. 4,215,295 shares of the company’s stock traded hands, compared to its average volume of 5,561,410. 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 1 year low of $130.96 and a 1 year high of $182.89. The firm has a market capitalization of $286.35 billion, a P/E ratio of 48.06, a PEG ratio of 2.06 and a beta of 0.60. The business’s 50-day moving average price is $165.47 and its 200-day moving average price is $164.17.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.46 earnings per share. As a group, sell-side analysts forecast that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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