Spurstone Advisory Services LLC Takes Position in AbbVie Inc. (NYSE:ABBV)

Spurstone Advisory Services LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,200 shares of the company’s stock, valued at approximately $213,000. AbbVie accounts for about 4.1% of Spurstone Advisory Services LLC’s investment portfolio, making the stock its 8th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter valued at $29,000. EnRich Financial Partners LLC lifted its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new stake in AbbVie in the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in AbbVie during the 4th quarter worth $32,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

AbbVie stock opened at $184.02 on Monday. The company has a market capitalization of $325.06 billion, a PE ratio of 76.68, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day moving average price of $191.30 and a two-hundred day moving average price of $186.85. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the company earned $2.31 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,471 shares of company stock worth $23,426,451. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target for the company. UBS Group boosted their price target on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

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.