DCM Advisors LLC Buys 1,078 Shares of AbbVie Inc. (NYSE:ABBV)

by · The Markets Daily

DCM Advisors LLC grew its holdings in AbbVie Inc. (NYSE:ABBV – Free Report) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,873 shares of the company’s stock after purchasing an additional 1,078 shares during the quarter. AbbVie comprises about 2.4% of DCM Advisors LLC’s investment portfolio, making the stock its 17th largest position. DCM Advisors LLC’s holdings in AbbVie were worth $5,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Novem Group acquired a new position in AbbVie in the fourth quarter worth $1,169,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in AbbVie by 14.8% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 338,238 shares of the company’s stock worth $60,105,000 after purchasing an additional 43,594 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its stake in AbbVie by 10.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 37,396 shares of the company’s stock worth $6,646,000 after purchasing an additional 3,471 shares in the last quarter. CSS LLC IL boosted its stake in AbbVie by 4.4% in the fourth quarter. CSS LLC IL now owns 3,340 shares of the company’s stock worth $594,000 after purchasing an additional 140 shares in the last quarter. Finally, Kolinsky Wealth Management LLC boosted its stake in AbbVie by 6.0% in the fourth quarter. Kolinsky Wealth Management LLC now owns 6,734 shares of the company’s stock worth $1,197,000 after purchasing an additional 382 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.7%

NYSE:ABBV opened at $181.74 on Thursday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market cap of $321.02 billion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.62 and a beta of 0.56. The stock has a 50-day moving average price of $189.64 and a two-hundred day moving average price of $186.68.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period in the previous year, the firm earned $2.31 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on AbbVie in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $210.00 target price for the company. BMO Capital Markets boosted their target price on AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

Get Our Latest Report on AbbVie

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company’s stock, valued at approximately $8,985,223.60. The trade was a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 107,693 shares of company stock valued at $22,282,985. Company insiders own 0.25% of the company’s stock.

About AbbVie

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).