First Dallas Securities Inc. Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

First Dallas Securities Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,269 shares of the company’s stock after purchasing an additional 644 shares during the period. AbbVie comprises 1.3% of First Dallas Securities Inc.’s portfolio, making the stock its 21st biggest position. First Dallas Securities Inc.’s holdings in AbbVie were worth $3,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. AMF Tjanstepension AB acquired a new position in AbbVie during the 3rd quarter valued at about $8,777,000. Czech National Bank increased its position in AbbVie by 6.9% during the 3rd quarter. Czech National Bank now owns 359,823 shares of the company’s stock valued at $71,058,000 after buying an additional 23,320 shares in the last quarter. GAMMA Investing LLC increased its position in AbbVie by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock valued at $7,112,000 after buying an additional 8,014 shares in the last quarter. WealthBridge Capital Management LLC increased its position in AbbVie by 8.6% during the 3rd quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock valued at $2,420,000 after buying an additional 972 shares in the last quarter. Finally, Diversified Trust Co grew its stake in AbbVie by 9.1% during the 3rd quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock valued at $7,892,000 after purchasing an additional 3,324 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $190.20 on Tuesday. The company has a market capitalization of $336.12 billion, a P/E ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. The business’s 50 day moving average is $176.57 and its two-hundred day moving average is $185.13. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the firm posted $2.79 EPS. Analysts expect that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Sanford C. Bernstein began coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. Finally, Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $208.35.

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.