Tidemark LLC Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

Tidemark LLC purchased a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, Holdings Channel.com reports. The firm purchased 593 shares of the company’s stock, valued at approximately $92,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ABBV. DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie in the 4th quarter valued at approximately $44,000. Bourgeon Capital Management LLC grew its holdings in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock worth $53,000 after acquiring an additional 240 shares during the last quarter. Naples Money Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth $53,000. Core Wealth Advisors Inc. grew its holdings in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of AbbVie in the 4th quarter worth $57,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ABBV shares. Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald started coverage on AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective for the company. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.14.

Insider Transactions at AbbVie

In related news, CFO Scott T. Reents sold 14,140 shares of AbbVie stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the completion of the transaction, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Scott T. Reents sold 14,140 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the transaction, the chief financial officer now directly owns 27,065 shares in the company, valued at $4,802,413.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 330,454 shares of company stock worth $58,595,955. Company insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

AbbVie stock traded up $0.08 during trading hours on Thursday, hitting $159.69. The company had a trading volume of 1,422,347 shares, compared to its average volume of 5,485,556. AbbVie Inc. has a one year low of $130.96 and a one year high of $182.89. The firm has a 50-day moving average of $168.81 and a 200 day moving average of $162.98. The firm has a market cap of $281.99 billion, a PE ratio of 47.29, a PEG ratio of 2.09 and a beta of 0.61. 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 (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the firm posted $2.46 earnings per share. On average, sell-side analysts expect 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.