Vermillion & White Wealth Management Group LLC Acquires Shares of 170 AbbVie Inc. (NYSE:ABBV)

Vermillion & White Wealth Management Group LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 170 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of AbbVie in the fourth quarter valued at about $3,229,888,000. International Assets Investment Management LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at about $499,955,000. Capital International Investors boosted its holdings in AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in AbbVie by 39.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock worth $1,305,252,000 after buying an additional 2,390,239 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the transaction, the executive vice president now owns 60,941 shares in the company, valued at approximately $10,895,641.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target on the stock in a report on Wednesday. Barclays cut their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. BMO Capital Markets cut their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim boosted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.21.

AbbVie Stock Performance

Shares of ABBV stock traded up $0.85 during trading hours on Friday, reaching $169.42. The stock had a trading volume of 3,781,858 shares, compared to its average volume of 4,890,198. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a 50-day simple moving average of $164.31 and a 200-day simple moving average of $164.59. The firm has a market capitalization of $299.17 billion, a PE ratio of 50.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.60.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current year.

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.