Silver Oak Securities Incorporated Increases Position in AbbVie Inc. (NYSE:ABBV)

Silver Oak Securities Incorporated grew its holdings in AbbVie Inc. (NYSE:ABBV) by 53.4% during the fourth quarter, HoldingsChannel reports. The firm owned 6,115 shares of the company’s stock after acquiring an additional 2,128 shares during the period. Silver Oak Securities Incorporated’s holdings in AbbVie were worth $1,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ABBV. State Street Corp grew its holdings in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. FMR LLC boosted its holdings in AbbVie by 3.9% in the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after purchasing an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after buying an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after buying an additional 373,802 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after buying an additional 4,471,806 shares during the period. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.6 %

ABBV opened at $192.95 on Friday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $340.96 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 1.84 and a beta of 0.58. The business has a fifty day moving average price of $177.19 and a 200 day moving average price of $185.43. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV) last released its 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 257.91% and a net margin of 7.59%. During the same quarter in the previous year, the business earned $2.79 EPS. Sell-side analysts expect that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Citigroup increased their price objective on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday. Morgan Stanley upped their target price on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday. Finally, Guggenheim upped their price objective on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

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.