Vega Investment Solutions Takes $221,000 Position in AbbVie Inc. (NYSE:ABBV)

Vega Investment Solutions acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,245 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors have also recently modified their holdings of the company. Strait & Sound Wealth Management LLC increased its position in shares of AbbVie by 1.7% during the 4th quarter. Strait & Sound Wealth Management LLC now owns 10,031 shares of the company’s stock valued at $1,782,000 after purchasing an additional 172 shares during the last quarter. Helium Advisors LLC purchased a new stake in AbbVie during the 4th quarter valued at about $295,000. Breakthru Advisory Services LLC purchased a new stake in AbbVie during the 4th quarter valued at about $286,000. Fourth Dimension Wealth LLC purchased a new stake in AbbVie during the 4th quarter valued at about $254,000. Finally, Breed s Hill Capital LLC boosted its holdings in AbbVie by 36.1% during the 4th quarter. Breed s Hill Capital LLC now owns 10,126 shares of the company’s stock valued at $1,799,000 after acquiring an additional 2,686 shares during the period. 70.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ABBV has been the subject of several analyst reports. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Truist Financial increased their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on AbbVie from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, March 5th. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

AbbVie Price Performance

Shares of AbbVie stock opened at $182.32 on Friday. The stock’s 50-day simple moving average is $189.00 and its 200-day simple moving average is $186.55. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a market capitalization of $322.05 billion, a price-to-earnings ratio of 75.97, a PEG ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

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

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the completion of the transaction, the senior vice president now owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This trade represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is currently owned by insiders.

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.