AbbVie Inc. (NYSE:ABBV) Shares Bought by First Dallas Securities Inc.

First Dallas Securities Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,269 shares of the company’s stock after buying an additional 644 shares during the period. AbbVie makes up about 1.3% of First Dallas Securities Inc.’s portfolio, making the stock its 21st biggest holding. First Dallas Securities Inc.’s holdings in AbbVie were worth $3,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie in the third quarter valued at $999,000. Saturna Capital Corp boosted its holdings in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the period. 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 valued at $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC boosted its holdings in AbbVie by 9.5% in 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 period. Finally, Avior Wealth Management LLC boosted its holdings in AbbVie by 23.5% in the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the period. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Truist Financial boosted their price target on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets lifted their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Sanford C. Bernstein initiated coverage on AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. Five research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Activity

In related 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 value of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, 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 is accessible through this link. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 3.4 %

ABBV stock opened at $190.20 on Tuesday. The business has a fifty day simple moving average of $176.57 and a 200-day simple moving average of $185.13. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly 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 firm earned $2.79 EPS. On average, equities research analysts expect that AbbVie Inc. will post 12.26 EPS for the current 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.