Strategic Global Advisors LLC increased its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,372 shares of the company's stock after purchasing an additional 3,864 shares during the period. Strategic Global Advisors LLC's holdings in AbbVie were worth $4,331,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $29,000. EnRich Financial Partners LLC lifted its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie in the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $32,000. 70.23% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Raymond James reiterated an "outperform" rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. 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. Morgan Stanley increased their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, April 28th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.95.
Get Our Latest Research Report on AbbVie
Insider Transactions at AbbVie
In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This represents a 52.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This trade represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,693 shares of company stock worth $22,282,985 over the last quarter. Corporate insiders own 0.25% of the company's stock.
AbbVie Stock Up 0.1%
AbbVie stock traded up $0.20 during midday trading on Thursday, hitting $182.00. 1,719,403 shares of the stock were exchanged, compared to its average volume of 7,282,553. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The stock has a market capitalization of $321.49 billion, a price-to-earnings ratio of 75.83, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The business's 50-day moving average price is $189.64 and its 200-day moving average price is $186.68. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.
AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Company Profile
(
Free Report)
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.
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