Hemington Wealth Management Has $450,000 Position in AbbVie Inc. (NYSE:ABBV)

Hemington Wealth Management grew its holdings in AbbVie Inc. (NYSE:ABBV) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,536 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Hemington Wealth Management’s holdings in AbbVie were worth $450,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment grew its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. grew its position in AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

ABBV opened at $193.06 on Thursday. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The firm has a market capitalization of $341.16 billion, a PE ratio of 80.44, a P/E/G ratio of 1.53 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a fifty day moving average price of $177.91 and a two-hundred day moving average price of $185.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results 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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the firm earned $2.79 EPS. As a group, analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of analyst reports. Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. Raymond James restated an “outperform” rating and set a $220.00 price target (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

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.