AbbVie Inc. (NYSE:ABBV) Shares Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 7.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,523 shares of the company’s stock after buying an additional 399 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in AbbVie were worth $981,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new stake in AbbVie in the third quarter worth $8,777,000. Czech National Bank grew its stake in shares of AbbVie by 6.9% in the third quarter. Czech National Bank now owns 359,823 shares of the company’s stock worth $71,058,000 after purchasing an additional 23,320 shares in the last quarter. City Holding Co. raised its stake in shares of AbbVie by 0.3% during the third quarter. City Holding Co. now owns 40,607 shares of the company’s stock valued at $8,019,000 after purchasing an additional 125 shares in the last quarter. Talbot Financial LLC lifted its holdings in AbbVie by 1.5% in the third quarter. Talbot Financial LLC now owns 92,006 shares of the company’s stock worth $18,169,000 after purchasing an additional 1,344 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in AbbVie during the 3rd quarter valued at about $39,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

AbbVie Price Performance

ABBV opened at $191.74 on Thursday. The stock has a fifty day moving average price of $177.01 and a 200 day moving average price of $185.38. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market cap of $338.82 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business earned $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ABBV shares. Guggenheim increased their price objective on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Citigroup raised their price objective on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

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.