Sunbeam Capital Management LLC Invests $692,000 in AbbVie Inc. (NYSE:ABBV)

Sunbeam Capital Management LLC bought a new stake in AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,678 shares of the company’s stock, valued at approximately $692,000. AbbVie makes up 1.5% of Sunbeam Capital Management LLC’s holdings, making the stock its 19th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of AbbVie during the 4th quarter worth approximately $309,000. Capital & Planning LLC increased its holdings in shares of AbbVie by 1.7% in the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company’s stock valued at $1,109,000 after purchasing an additional 105 shares during the last quarter. LaFleur & Godfrey LLC increased its holdings in shares of AbbVie by 4.1% in the fourth quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company’s stock valued at $14,109,000 after purchasing an additional 3,108 shares during the last quarter. Phillips Wealth Planners LLC raised its position in shares of AbbVie by 2.7% in the fourth quarter. Phillips Wealth Planners LLC now owns 7,064 shares of the company’s stock valued at $1,237,000 after purchasing an additional 188 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of AbbVie by 2.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 956,556 shares of the company’s stock worth $169,980,000 after buying an additional 25,246 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ABBV shares. UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Guggenheim increased their target price on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. BNP Paribas raised AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Eight 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 company. According to data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $210.95.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction 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 $2,338,401.36. This trade represents a 62.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 approximately $11,183,398.72. The trade was a 52.50% 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 worth $22,282,985. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $183.51 on Friday. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm’s 50 day moving average is $188.39 and its 200 day moving average is $186.43. 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 capitalization of $324.15 billion, a P/E ratio of 76.46, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter last year, the business posted $2.31 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AbbVie Inc. will post 12.31 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.