By otakuyassine3@gmail.com 
Gilbert & Cook Inc. reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,109 shares of the company’s stock after selling 84 shares during the period. Gilbert & Cook Inc.’s holdings in AbbVie were worth $1,619,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in ABBV. Groupama Asset Managment lifted its stake in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $28,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie during the 4th quarter valued at about $35,000. Marquette Asset Management LLC bought a new position in AbbVie during the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the period. 70.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Thursday, December 5th. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. cut their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.00.
Get Our Latest Analysis on AbbVie
Insider Activity at AbbVie
In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.
AbbVie Trading Up 0.2 %
Shares of NYSE ABBV opened at $175.54 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. 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 50-day moving average of $176.37 and a 200 day moving average of $184.90. The stock has a market cap of $310.21 billion, a P/E ratio of 60.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results 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 firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $2.95 earnings per share. As a group, sell-side analysts expect that AbbVie Inc. will post 10.06 EPS for the current fiscal year.
About AbbVie
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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