By otakuyassine3@gmail.com 
Cibc World Market Inc. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 591,531 shares of the company’s stock after purchasing an additional 113,324 shares during the quarter. Cibc World Market Inc.’s holdings in AbbVie were worth $105,115,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment boosted its stake in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter worth approximately $28,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie during the 4th quarter worth approximately $35,000. Marquette Asset Management LLC bought a new stake in AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
AbbVie Price Performance
AbbVie stock opened at $175.54 on Friday. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The business has a fifty day moving average price of $176.37 and a 200-day moving average price of $184.90. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $310.21 billion, a P/E ratio of 60.95, a PEG ratio of 1.68 and a beta of 0.58.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. As a group, equities research analysts forecast that AbbVie Inc. will post 10.06 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on ABBV shares. Wolfe Research started coverage on AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Bank of America reissued a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Wells Fargo & Company boosted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.00.
Check Out Our Latest Analysis on ABBV
Insider Buying and Selling at AbbVie
In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.
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.
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