AbbVie Inc. (NYSE:ABBV) Position Increased by Charter Oak Capital Management LLC

Charter Oak Capital Management LLC raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,537 shares of the company’s stock after buying an additional 78 shares during the quarter. Charter Oak Capital Management LLC’s holdings in AbbVie were worth $1,789,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its stake in AbbVie by 1.7% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its stake in AbbVie by 4.1% during the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its stake in AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock valued at $2,159,000 after buying an additional 55 shares in the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock valued at $660,000 after buying an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 1.3%

NYSE:ABBV opened at $189.89 on Friday. The stock’s 50 day moving average price is $184.24 and its 200 day moving average price is $187.09. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a market capitalization of $335.42 billion, a P/E ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50. 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 (NYSE:ABBV) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 target price on the stock. Bank of America upped their target price on AbbVie from $200.00 to $223.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Citigroup reiterated a “neutral” rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.19.

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.