AbbVie Inc. (NYSE:ABBV) Stock Position Lifted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in AbbVie Inc. (NYSE:ABBV) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 970,754 shares of the company’s stock after buying an additional 12,895 shares during the period. AbbVie makes up approximately 0.6% of Nomura Asset Management Co. Ltd.’s holdings, making the stock its 27th biggest position. Nomura Asset Management Co. Ltd. owned about 0.05% of AbbVie worth $150,438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. WealthPlan Investment Management LLC increased its holdings in shares of AbbVie by 664.4% in the third quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock worth $8,466,000 after acquiring an additional 49,365 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in AbbVie during the third quarter worth approximately $214,000. Breakwater Capital Group grew its position in shares of AbbVie by 12.6% during the 3rd quarter. Breakwater Capital Group now owns 3,354 shares of the company’s stock worth $478,000 after purchasing an additional 375 shares in the last quarter. Lincoln National Corp lifted its position in AbbVie by 2.2% during the third quarter. Lincoln National Corp now owns 76,960 shares of the company’s stock worth $11,472,000 after purchasing an additional 1,692 shares during the period. Finally, Meyer Handelman Co. raised its holdings in shares of AbbVie by 6.6% during the 3rd quarter. Meyer Handelman Co. now owns 136,235 shares of the company’s stock worth $20,307,000 after buying an additional 8,430 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a report on Monday, January 29th. BMO Capital Markets reduced their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Finally, Guggenheim raised their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $176.14.

Insider Buying and Selling

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the sale, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares of the company’s stock, valued at $92,020,679.73. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert A. Michael sold 68,879 shares of AbbVie stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the completion of the sale, the chief operating officer now directly owns 98,645 shares in the company, valued at approximately $17,405,910.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 302,561 shares of company stock worth $53,645,658. Insiders own 0.25% of the company’s stock.

AbbVie Stock Performance

NYSE:ABBV traded down $1.19 during trading hours on Friday, reaching $157.07. The company had a trading volume of 3,689,906 shares, compared to its average volume of 5,511,237. 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 Inc. has a 1-year low of $130.96 and a 1-year high of $182.89. The business’s 50 day moving average price is $168.36 and its 200-day moving average price is $162.95. The firm has a market cap of $277.37 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company posted $2.46 EPS. The business’s revenue was up .7% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 11.26 EPS for the current 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.