HHM Wealth Advisors LLC Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

HHM Wealth Advisors LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 51.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,027 shares of the company’s stock after acquiring an additional 3,058 shares during the period. HHM Wealth Advisors LLC’s holdings in AbbVie were worth $1,604,000 at the end of the most recent quarter.

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

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ABBV shares. UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Five investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $183.90 on Monday. The company’s fifty day moving average is $176.57 and its two-hundred day moving average is $185.06. 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 has a market capitalization of $324.98 billion, a P/E ratio of 63.85, a PEG ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 return on equity of 244.01% and a net margin of 9.22%. During the same quarter in the previous year, the company posted $2.79 EPS. Analysts forecast that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

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.