Foster & Motley Inc. Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Foster & Motley Inc. grew its stake in AbbVie Inc. (NYSE:ABBV) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,545 shares of the company’s stock after acquiring an additional 900 shares during the period. Foster & Motley Inc.’s holdings in AbbVie were worth $10,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ABBV. Allen Capital Group LLC increased its position in AbbVie by 13.8% during the 4th quarter. Allen Capital Group LLC now owns 2,778 shares of the company’s stock valued at $494,000 after purchasing an additional 337 shares during the period. Strategic Blueprint LLC lifted its position in shares of AbbVie by 1.8% in the 4th quarter. Strategic Blueprint LLC now owns 10,283 shares of the company’s stock worth $1,827,000 after purchasing an additional 179 shares during the period. Forsta AP Fonden boosted its stake in shares of AbbVie by 1.3% during the fourth quarter. Forsta AP Fonden now owns 458,562 shares of the company’s stock valued at $81,486,000 after purchasing an additional 5,800 shares in the last quarter. Patton Fund Management Inc. purchased a new position in AbbVie during the fourth quarter valued at approximately $5,058,000. Finally, Foster Victor Wealth Advisors LLC raised its stake in AbbVie by 19.4% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 75,059 shares of the company’s stock worth $12,877,000 after buying an additional 12,214 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ABBV has been the topic of a number of analyst reports. UBS Group lifted their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Truist Financial decreased their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. TD Cowen lifted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Five investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.00.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.25% of the company’s stock.

AbbVie Price Performance

AbbVie stock opened at $175.21 on Thursday. The company has a fifty day simple moving average of $176.22 and a 200-day simple moving average of $184.97. The firm has a market capitalization of $309.62 billion, a price-to-earnings ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58. 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.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm earned $2.95 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current fiscal year.

AbbVie Company 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.