Osprey Private Wealth LLC Grows Position in AbbVie Inc. (NYSE:ABBV)

Osprey Private Wealth LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 31,645 shares of the company’s stock after acquiring an additional 185 shares during the quarter. AbbVie comprises approximately 3.9% of Osprey Private Wealth LLC’s holdings, making the stock its 8th biggest position. Osprey Private Wealth LLC’s holdings in AbbVie were worth $5,623,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ABBV. Groesbeck Investment Management Corp NJ increased its position in shares of AbbVie by 168.6% during the fourth quarter. Groesbeck Investment Management Corp NJ now owns 19,555 shares of the company’s stock valued at $3,475,000 after buying an additional 12,276 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of AbbVie during the fourth quarter valued at about $898,000. Stratos Investment Management LLC increased its position in shares of AbbVie by 3.6% during the fourth quarter. Stratos Investment Management LLC now owns 12,511 shares of the company’s stock valued at $2,223,000 after buying an additional 439 shares during the period. Cassia Capital Partners LLC increased its position in shares of AbbVie by 38.1% during the fourth quarter. Cassia Capital Partners LLC now owns 6,058 shares of the company’s stock valued at $1,077,000 after buying an additional 1,671 shares during the period. Finally, 1858 Wealth Management LLC increased its position in shares of AbbVie by 9.2% during the fourth quarter. 1858 Wealth Management LLC now owns 4,523 shares of the company’s stock valued at $804,000 after buying an additional 381 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 0.1 %

Shares of NYSE:ABBV opened at $189.97 on Wednesday. The stock has a market capitalization of $335.71 billion, a price-to-earnings ratio of 79.16, a PEG ratio of 1.84 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 stock’s 50-day simple moving average is $176.84 and its two-hundred day simple moving average is $185.26. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

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

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Wells Fargo & Company increased their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets increased their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five 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. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $208.35.

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.