Vantus Wealth LLC Buys Shares of 3,803 AbbVie Inc. $ABBV

Vantus Wealth LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, HoldingsChannel reports. The fund bought 3,803 shares of the company’s stock, valued at approximately $869,000.

Other large investors have also recently bought and sold shares of the company. Eclectic Associates Inc. ADV lifted its holdings in AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after acquiring an additional 45 shares during the period. Weil Company Inc. raised its stake in shares of AbbVie by 2.3% during the 3rd quarter. Weil Company Inc. now owns 2,026 shares of the company’s stock worth $469,000 after buying an additional 46 shares during the period. Hardin Capital Partners LLC increased its position in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after purchasing an additional 46 shares in the last quarter. Dogwood Wealth Management LLC increased its position in shares of AbbVie by 10.8% during the fourth quarter. Dogwood Wealth Management LLC now owns 473 shares of the company’s stock worth $108,000 after purchasing an additional 46 shares in the last quarter. Finally, Quantum Private Wealth LLC increased its position in shares of AbbVie by 2.0% during the fourth quarter. Quantum Private Wealth LLC now owns 2,376 shares of the company’s stock worth $543,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV stock opened at $212.63 on Tuesday. The business’s fifty day moving average price is $208.56 and its 200 day moving average price is $219.58. AbbVie Inc. has a 1-year low of $181.73 and a 1-year high of $244.81. The firm has a market capitalization of $375.67 billion, a PE ratio of 104.74, a P/E/G ratio of 0.75 and a beta of 0.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a negative return on equity of 576.45% and a net margin of 5.79%.The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. During the same period in the previous year, the business earned $2.46 earnings per share. AbbVie’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David Ryan Purdue sold 5,230 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total transaction of $1,221,518.80. Following the transaction, the senior vice president directly owned 2,654 shares in the company, valued at approximately $619,868.24. This represents a 66.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ABBV shares. DZ Bank upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. UBS Group lowered their target price on AbbVie from $240.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Canaccord Genuity Group raised their target price on AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Evercore set a $235.00 price objective on AbbVie in a research note on Friday, May 15th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $253.43.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.