Global Wealth Management Investment Advisory Inc. Has $5.33 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Global Wealth Management Investment Advisory Inc. lifted its position in AbbVie Inc. (NYSE:ABBV) by 24.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,014 shares of the company’s stock after buying an additional 5,839 shares during the quarter. AbbVie comprises 1.1% of Global Wealth Management Investment Advisory Inc.’s investment portfolio, making the stock its 24th largest holding. Global Wealth Management Investment Advisory Inc.’s holdings in AbbVie were worth $5,334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Groupama Asset Managment grew its holdings in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

Analyst Ratings Changes

ABBV has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research report on Friday, November 22nd. Citigroup upped their target price on shares of AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Down 1.2 %

Shares of NYSE ABBV opened at $190.67 on Monday. The company’s 50 day simple moving average is $177.54 and its 200 day simple moving average is $185.69. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $336.94 billion, a P/E ratio of 79.45, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 EPS. On average, analysts predict that AbbVie Inc. will post 12.32 EPS for the current year.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The shares were 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 owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

About AbbVie

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.