Synergy Asset Management LLC Purchases Shares of 8,781 AbbVie Inc. (NYSE:ABBV)

Synergy Asset Management LLC acquired a new position in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,781 shares of the company’s stock, valued at approximately $1,576,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its stake in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the third quarter worth $28,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie during the fourth quarter valued at $35,000. Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by insiders.

AbbVie Price Performance

AbbVie stock opened at $175.21 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a 50-day moving average price of $176.22 and a 200 day moving average price of $184.97. AbbVie Inc. has a 12-month low of $153.58 and a 12-month high of $207.32. The stock has a market cap of $309.62 billion, a P/E ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays boosted their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Citigroup dropped their price objective on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Tuesday. Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, UBS Group lifted their price objective on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.00.

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.