AbbVie Inc. (NYSE:ABBV) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 63.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,372 shares of the company’s stock after acquiring an additional 8,280 shares during the quarter. AbbVie makes up about 1.9% of New England Research & Management Inc.’s portfolio, making the stock its 11th biggest holding. New England Research & Management Inc.’s holdings in AbbVie were worth $3,798,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment lifted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the third quarter valued at about $28,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter valued at about $35,000. Marquette Asset Management LLC acquired a new position in AbbVie in the third quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV stock opened at $175.21 on Thursday. The company has a market capitalization of $309.62 billion, a P/E ratio of 60.84, a PEG ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The business has a 50 day simple moving average of $176.22 and a 200-day simple moving average of $184.97. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.95 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 10.06 EPS for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several research reports. Citigroup reduced their price target on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Finally, Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 target price on the stock. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Company 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.