Princeton Global Asset Management LLC Purchases 273 Shares of AbbVie Inc. (NYSE:ABBV)

Princeton Global Asset Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the fourth quarter, Holdings Channel reports. The fund owned 29,932 shares of the company’s stock after buying an additional 273 shares during the quarter. AbbVie comprises approximately 1.0% of Princeton Global Asset Management LLC’s investment portfolio, making the stock its 27th biggest holding. Princeton Global Asset Management LLC’s holdings in AbbVie were worth $5,319,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the third quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. raised its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Price Performance

Shares of ABBV stock opened at $183.90 on Monday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock has a market cap of $324.98 billion, a PE ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm’s 50 day moving average price is $176.57 and its two-hundred day moving average price is $185.06.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 244.01% and a net margin of 9.22%. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 10.09 EPS for the current year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent research reports. UBS Group increased their price target on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Barclays increased their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. BMO Capital Markets dropped their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.00.

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.