AbbVie Inc. (NYSE:ABBV) Shares Acquired by Opinicus Capital Inc.

Opinicus Capital Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,217 shares of the company’s stock after purchasing an additional 458 shares during the quarter. AbbVie makes up approximately 1.4% of Opinicus Capital Inc.’s investment portfolio, making the stock its 19th largest position. Opinicus Capital Inc.’s holdings in AbbVie were worth $1,638,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AMF Tjanstepension AB acquired a new stake in AbbVie during the third quarter worth about $8,777,000. WealthBridge Investment Counsel Inc. boosted its position in shares of AbbVie by 0.5% during the third quarter. WealthBridge Investment Counsel Inc. now owns 36,746 shares of the company’s stock worth $7,257,000 after buying an additional 195 shares during the period. Keeler & Nadler Financial Planning & Wealth Management acquired a new position in AbbVie in the 3rd quarter valued at about $226,000. Watts Gwilliam & Co. LLC purchased a new stake in AbbVie during the 3rd quarter worth approximately $3,110,000. Finally, Merrion Investment Management Co LLC raised its position in AbbVie by 7.7% in the 3rd quarter. Merrion Investment Management Co LLC now owns 7,000 shares of the company’s stock valued at $1,382,000 after purchasing an additional 500 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABBV has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein assumed coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 sale, 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 SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Down 1.2 %

Shares of NYSE ABBV opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm’s 50-day moving average is $177.38 and its 200-day moving average is $185.48. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm has a market capitalization of $336.94 billion, a PE ratio of 79.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted 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 257.91% and a net margin of 7.59%. During the same quarter last year, the company earned $2.79 EPS. Equities analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

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.