Great Valley Advisor Group Inc. Has $14.95 Million Position in AbbVie Inc. (NYSE:ABBV)

Great Valley Advisor Group Inc. raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 84,130 shares of the company’s stock after acquiring an additional 1,254 shares during the period. Great Valley Advisor Group Inc.’s holdings in AbbVie were worth $14,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Cypress Asset Management Inc. TX acquired a new position in AbbVie in the fourth quarter valued at about $666,000. Ameriflex Group Inc. bought a new position in shares of AbbVie in the fourth quarter valued at approximately $562,000. United Advisor Group LLC boosted its holdings in shares of AbbVie by 2.1% in the 4th quarter. United Advisor Group LLC now owns 4,472 shares of the company’s stock worth $795,000 after acquiring an additional 90 shares in the last quarter. Sunbeam Capital Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $692,000. Finally, American Trust grew its position in AbbVie by 185.6% during the 4th quarter. American Trust now owns 19,111 shares of the company’s stock worth $3,396,000 after acquiring an additional 12,420 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 107,693 shares of company stock worth $22,282,985. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ABBV shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim raised their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank upgraded shares of AbbVie to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup reissued a “neutral” rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

AbbVie Stock Up 0.5%

Shares of AbbVie stock opened at $183.51 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market cap of $324.15 billion, a PE ratio of 76.46, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The business has a fifty day simple moving average of $188.39 and a 200 day simple moving average of $186.32. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. Research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

AbbVie 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.