TCI Wealth Advisors Inc. Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

TCI Wealth Advisors Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the fourth quarter, Holdings Channel reports. The firm owned 16,382 shares of the company’s stock after acquiring an additional 97 shares during the period. TCI Wealth Advisors Inc.’s holdings in AbbVie were worth $2,911,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie in the fourth quarter worth $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter valued at $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE ABBV opened at $175.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock’s 50-day simple moving average is $176.43 and its two-hundred day simple moving average is $184.84. The firm has a market capitalization of $310.21 billion, a P/E ratio of 60.95, a P/E/G ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $2.95 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

Analysts Set New Price Targets

ABBV has been the subject of several research reports. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Truist Financial decreased their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company upped their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. cut their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.