Vantus Wealth LLC Takes Position in AbbVie Inc. $ABBV

Vantus Wealth LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,803 shares of the company’s stock, valued at approximately $869,000.

Other large investors also recently modified their holdings of the company. Chelsea Counsel Co. bought a new position in shares of AbbVie in the 3rd quarter worth $26,000. Westend Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $29,000. Texas Capital Bancshares Inc TX bought a new position in shares of AbbVie in the 3rd quarter worth $31,000. Legacy Wealth Managment LLC ID increased its holdings in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock worth $31,000 after buying an additional 73 shares during the last quarter. Finally, WestEnd Advisors LLC increased its holdings in shares of AbbVie by 160.4% in the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock worth $32,000 after buying an additional 85 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 2.3%

Shares of NYSE:ABBV opened at $212.63 on Tuesday. The firm’s 50 day moving average price is $208.56 and its 200-day moving average price is $219.58. AbbVie Inc. has a twelve month low of $181.73 and a twelve month high of $244.81. The stock has a market capitalization of $375.67 billion, a PE ratio of 104.74, a price-to-earnings-growth ratio of 0.75 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.72 billion. During the same quarter last year, the business earned $2.46 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post 14.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price target on the stock. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Morgan Stanley boosted their price objective on shares of AbbVie from $270.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Canaccord Genuity Group upped their price target on shares of AbbVie from $262.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.43.

Insider Buying and Selling at AbbVie

In related news, SVP David Ryan Purdue sold 5,230 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $233.56, for a total value of $1,221,518.80. Following the completion of the sale, the senior vice president directly owned 2,654 shares in the company, valued at $619,868.24. This trade represents a 66.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

AbbVie Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.