Symphony Financial Ltd. Co. Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

Symphony Financial Ltd. Co. boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,582 shares of the company’s stock after purchasing an additional 102 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in AbbVie were worth $2,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ABBV. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie in the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in shares of AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction 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 completion of the transaction, 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 available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Truist Financial cut their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price for the company. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Price Performance

AbbVie stock opened at $183.90 on Friday. The company has a market cap of $324.98 billion, a P/E ratio of 63.85, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business has a fifty day moving average of $176.57 and a two-hundred day moving average of $184.95. 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 announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm posted $2.79 earnings per share. As a group, analysts predict that AbbVie Inc. will post 10.09 earnings per share 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.