Tanager Wealth Management LLP Invests $271,000 in AbbVie Inc. (NYSE:ABBV)

Tanager Wealth Management LLP purchased a new position in AbbVie Inc. (NYSE:ABBVGet Rating) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds have also bought and sold shares of the company. OLD Mission Capital LLC purchased a new stake in AbbVie in the third quarter worth about $242,000. Camden National Bank increased its position in AbbVie by 2.3% in the fourth quarter. Camden National Bank now owns 10,924 shares of the company’s stock worth $1,171,000 after buying an additional 245 shares in the last quarter. Morgan Stanley boosted its stake in shares of AbbVie by 1.1% in the second quarter. Morgan Stanley now owns 18,944,687 shares of the company’s stock worth $2,133,931,000 after acquiring an additional 214,425 shares during the period. Keudell Morrison Wealth Management boosted its stake in shares of AbbVie by 5.0% in the third quarter. Keudell Morrison Wealth Management now owns 30,717 shares of the company’s stock worth $3,313,000 after acquiring an additional 1,469 shares during the period. Finally, Center for Financial Planning Inc. boosted its stake in shares of AbbVie by 4.1% in the third quarter. Center for Financial Planning Inc. now owns 12,004 shares of the company’s stock worth $1,295,000 after acquiring an additional 471 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.

NYSE ABBV traded up $1.08 during midday trading on Tuesday, hitting $149.11. 6,056,917 shares of the company traded hands, compared to its average volume of 7,845,078. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The company has a market cap of $263.49 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 4.26 and a beta of 0.83. The company’s 50-day simple moving average is $157.97 and its 200-day simple moving average is $142.20. AbbVie Inc. has a 52 week low of $105.56 and a 52 week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. The firm had revenue of $13.36 billion during the quarter, compared to analysts’ expectations of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.95 EPS. On average, research analysts predict that AbbVie Inc. will post 14.06 earnings per share for the current year.

In other AbbVie news, VP Brian L. Durkin sold 18,628 shares of AbbVie stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $150.01, for a total transaction of $2,794,386.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of AbbVie stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $159.20, for a total value of $4,408,248.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 488,383 shares of company stock valued at $74,384,651. 0.08% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on ABBV. SVB Leerink assumed coverage on AbbVie in a research note on Monday. They issued an “underperform” rating and a $140.00 price objective for the company. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. Bank of America increased their price target on AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, February 3rd. JPMorgan Chase & Co. increased their price target on AbbVie from $165.00 to $180.00 in a research note on Thursday, February 3rd. Finally, UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and increased their price target for the company from $129.00 to $147.00 in a research note on Monday, February 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $159.75.

AbbVie Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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