Visionary Wealth Advisors Has $10.26 Million Position in AbbVie Inc. (NYSE:ABBV)

Visionary Wealth Advisors boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 57,722 shares of the company’s stock after acquiring an additional 1,196 shares during the period. Visionary Wealth Advisors’ holdings in AbbVie were worth $10,257,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its stake in shares of AbbVie by 2.3% in the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of AbbVie in the 4th quarter worth approximately $4,459,385,000. 70.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. UBS Group boosted their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. The Goldman Sachs Group restated a “neutral” rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th. Finally, Bank of America increased their price objective on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Trading Up 1.3%

AbbVie stock opened at $184.02 on Monday. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The stock has a market cap of $325.06 billion, a P/E ratio of 76.68, a PEG ratio of 1.62 and a beta of 0.56. The firm’s fifty day moving average price is $191.30 and its 200-day moving average price is $186.85.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.31 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last three months. 0.25% of the stock is owned by corporate 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.