Concord Wealth Partners Grows Holdings in AbbVie Inc. (NYSE:ABBV)

Concord Wealth Partners increased its holdings in AbbVie Inc. (NYSE:ABBV) by 8.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,480 shares of the company’s stock after purchasing an additional 2,408 shares during the quarter. AbbVie accounts for about 0.9% of Concord Wealth Partners’ holdings, making the stock its 27th largest holding. Concord Wealth Partners’ holdings in AbbVie were worth $5,239,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ABBV. GGM Financials LLC lifted its position in AbbVie by 0.7% in the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares during the last quarter. Pine Haven Investment Counsel Inc increased its stake in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares during the period. Dillon & Associates Inc. raised its holdings in shares of AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares during the last quarter. First Citizens Financial Corp boosted its position in shares of AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares during the period. Finally, Sunflower Bank N.A. grew its holdings in AbbVie by 0.4% in the 3rd quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock worth $2,710,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Up 4.7 %

Shares of NYSE:ABBV opened at $183.90 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm has a fifty day moving average price of $176.43 and a 200 day moving average price of $184.84. 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 stock has a market capitalization of $324.98 billion, a PE ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 9.22% and a return on equity of 244.01%. During the same period last year, the business posted $2.79 EPS. Analysts expect that AbbVie Inc. will post 10.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of analyst reports. BMO Capital Markets reduced their price target on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $205.00.

Insider Buying and Selling

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 stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by insiders.

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.