CMG Global Holdings LLC Boosts Stock Position in AbbVie Inc. (NYSE:ABBV)

CMG Global Holdings LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,896 shares of the company’s stock after buying an additional 61 shares during the quarter. CMG Global Holdings LLC’s holdings in AbbVie were worth $659,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter worth approximately $999,000. Saturna Capital Corp lifted its stake in AbbVie by 486.1% during the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. boosted its holdings in AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC increased its stake in AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Up 0.2 %

ABBV stock opened at $175.54 on Friday. The firm has a market cap of $310.21 billion, a PE ratio of 60.95, a P/E/G ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32. 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 firm has a 50 day simple moving average of $176.37 and a 200 day simple moving average of $184.90.

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

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ABBV. Morgan Stanley lowered their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Wells Fargo & Company raised their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

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.