AbbVie Inc. (NYSE:ABBV) Shares Purchased by Root Financial Partners LLC

Root Financial Partners LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 42.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,550 shares of the company’s stock after purchasing an additional 754 shares during the period. Root Financial Partners LLC’s holdings in AbbVie were worth $453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ABBV. Walkner Condon Financial Advisors LLC lifted its stake in AbbVie by 7.4% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 2,052 shares of the company’s stock worth $365,000 after acquiring an additional 142 shares in the last quarter. Bogart Wealth LLC increased its stake in AbbVie by 13.3% during the fourth quarter. Bogart Wealth LLC now owns 4,215 shares of the company’s stock worth $749,000 after purchasing an additional 495 shares during the period. Catalyst Financial Partners LLC increased its stake in AbbVie by 2.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 12,832 shares of the company’s stock worth $2,280,000 after purchasing an additional 363 shares during the period. Attessa Capital LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $476,000. Finally, Life Planning Partners Inc grew its holdings in shares of AbbVie by 17,670.0% in the fourth quarter. Life Planning Partners Inc now owns 284,853 shares of the company’s stock valued at $51,000 after purchasing an additional 283,250 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several recent research reports. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Guggenheim lifted their target price on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wolfe Research assumed coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target on the stock. Wells Fargo & Company lifted their price objective on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Five 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on 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 trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.3 %

NYSE:ABBV opened at $193.54 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The stock’s 50 day moving average price is $178.24 and its 200 day moving average price is $185.91. The company has a market capitalization of $342.00 billion, a PE ratio of 80.64, a P/E/G ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, January 31st. The company reported $2.16 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 quarter last year, the firm earned $2.79 earnings per share. On average, research analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current 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.