Calamos Wealth Management LLC Has $1.61 Million Position in AbbVie Inc. (NYSE:ABBV)

Calamos Wealth Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 2.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,060 shares of the company’s stock after acquiring an additional 208 shares during the period. Calamos Wealth Management LLC’s holdings in AbbVie were worth $1,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Patron Partners LLC raised its position in shares of AbbVie by 9.4% during the fourth quarter. Patron Partners LLC now owns 7,208 shares of the company’s stock worth $1,281,000 after purchasing an additional 618 shares during the period. Columbus Macro LLC raised its stake in AbbVie by 221.0% during the fourth quarter. Columbus Macro LLC now owns 42,881 shares of the company’s stock worth $7,620,000 after buying an additional 29,524 shares during the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in AbbVie by 2.7% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 18,040 shares of the company’s stock worth $3,206,000 after buying an additional 480 shares during the last quarter. Vantage Point Financial LLC bought a new position in shares of AbbVie during the 4th quarter worth $205,000. Finally, Fourpath Capital Management LLC grew its holdings in shares of AbbVie by 13.4% during the fourth quarter. Fourpath Capital Management LLC now owns 7,426 shares of the company’s stock worth $1,320,000 after purchasing an additional 876 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 3.4 %

Shares of ABBV opened at $190.20 on Tuesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $336.12 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 0.58. The firm’s 50-day moving average price is $176.57 and its 200-day moving average price is $185.13. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results 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 net margin of 7.59% and a return on equity of 257.91%. During the same period in the prior year, the firm earned $2.79 EPS. Sell-side analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ABBV. Piper Sandler Companies reissued an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a report on Friday, November 22nd. Finally, Morgan Stanley upped their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday. Five equities research 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.

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.