Hickory Point Bank & Trust Buys New Shares in AbbVie Inc. (NYSE:ABBV)

Hickory Point Bank & Trust purchased a new position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,012 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. EnRich Financial Partners LLC increased its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter worth $31,000. Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $32,000. Finally, Pinney & Scofield Inc. acquired a new position in AbbVie in the fourth quarter valued at $36,000. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Stock Performance

AbbVie stock opened at $189.89 on Friday. AbbVie Inc. has a 52 week low of $163.52 and a 52 week 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 $335.42 billion, a P/E ratio of 79.12, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. The stock has a 50 day moving average of $184.24 and a 200-day moving average of $187.09.

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

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 on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on ABBV. Citigroup restated a “neutral” rating and set a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Cantor Fitzgerald began coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price target on the stock. Evercore ISI boosted their price objective on shares of AbbVie from $204.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company raised their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $212.19.

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.