Money Concepts Capital Corp Buys 2,021 Shares of AbbVie Inc. (NYSE:ABBV)

Money Concepts Capital Corp grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,661 shares of the company’s stock after buying an additional 2,021 shares during the quarter. Money Concepts Capital Corp’s holdings in AbbVie were worth $7,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ABBV. GGM Financials LLC boosted its position in AbbVie by 0.7% in the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc grew its position in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares during the period. Dillon & Associates Inc. increased its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. Sunflower Bank N.A. raised its position in AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after acquiring an additional 53 shares during the period. Finally, Professional Financial Advisors LLC boosted its stake in shares of AbbVie by 3.4% during the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

ABBV has been the topic of a number of recent research reports. Truist Financial raised their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup increased their target price on shares of AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company lifted their price target on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Monday. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

AbbVie Stock Down 0.1 %

Shares of NYSE ABBV opened at $189.97 on Wednesday. The stock has a market capitalization of $335.71 billion, a price-to-earnings ratio of 79.16, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The firm’s 50-day moving average price is $176.84 and its 200-day moving average price is $185.26.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same period in the previous year, the company earned $2.79 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post 12.26 EPS for the current fiscal 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.