Strategic Planning Group LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Strategic Planning Group LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,322 shares of the company’s stock after buying an additional 1,563 shares during the period. AbbVie makes up 1.2% of Strategic Planning Group LLC’s holdings, making the stock its 26th biggest position. Strategic Planning Group LLC’s holdings in AbbVie were worth $6,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Gries Financial LLC increased its stake in shares of AbbVie by 0.4% in the 4th quarter. Gries Financial LLC now owns 16,040 shares of the company’s stock worth $2,850,000 after acquiring an additional 62 shares during the last quarter. New England Research & Management Inc. grew its holdings in shares of AbbVie by 63.2% in the fourth quarter. New England Research & Management Inc. now owns 21,372 shares of the company’s stock valued at $3,798,000 after purchasing an additional 8,280 shares during the period. Milestone Asset Management LLC increased its position in AbbVie by 25.1% during the fourth quarter. Milestone Asset Management LLC now owns 7,675 shares of the company’s stock worth $1,364,000 after purchasing an additional 1,539 shares during the last quarter. Kaufman Rossin Wealth LLC acquired a new position in AbbVie in the 4th quarter valued at about $209,000. Finally, Hanson & Doremus Investment Management grew its stake in shares of AbbVie by 21.0% in the 4th quarter. Hanson & Doremus Investment Management now owns 8,855 shares of the company’s stock valued at $1,574,000 after buying an additional 1,536 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ABBV shares. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $175.21 on Thursday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company’s fifty day moving average is $176.22 and its two-hundred day moving average is $184.97. The firm has a market capitalization of $309.62 billion, a P/E ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $2.95 earnings per share. Analysts forecast that AbbVie Inc. will post 10.06 EPS for the current fiscal 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.