AbbVie Inc. (NYSE:ABBV) Shares Purchased by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,473 shares of the company’s stock after buying an additional 524 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in AbbVie were worth $439,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ABBV. Northwestern Mutual Wealth Management Co. boosted its stake in shares of AbbVie by 0.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 227,071 shares of the company’s stock worth $38,948,000 after acquiring an additional 1,843 shares in the last quarter. Invst LLC raised its holdings in AbbVie by 23.0% during the second quarter. Invst LLC now owns 4,133 shares of the company’s stock worth $704,000 after purchasing an additional 774 shares during the last quarter. Gateway Wealth Partners LLC boosted its position in AbbVie by 10.2% during the second quarter. Gateway Wealth Partners LLC now owns 2,703 shares of the company’s stock worth $464,000 after purchasing an additional 250 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in AbbVie by 1.6% in the second quarter. Pathway Financial Advisers LLC now owns 32,917 shares of the company’s stock valued at $5,621,000 after purchasing an additional 520 shares during the last quarter. Finally, Ted Buchan & Co purchased a new position in shares of AbbVie in the second quarter valued at $272,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 1.1 %

Shares of NYSE:ABBV opened at $174.88 on Wednesday. The stock has a 50-day simple moving average of $176.05 and a 200-day simple moving average of $184.94. The stock has a market capitalization of $309.04 billion, a P/E ratio of 60.72, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current year.

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 transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Wolfe Research started coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Citigroup reduced their price objective on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.00.

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.