Strategic Blueprint LLC Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Strategic Blueprint LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,283 shares of the company’s stock after buying an additional 179 shares during the period. Strategic Blueprint LLC’s holdings in AbbVie were worth $1,827,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp raised its position in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares during the last quarter. FMR LLC raised its position in shares of AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after purchasing an additional 373,802 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of AbbVie by 1,745.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 0.2 %

Shares of AbbVie stock opened at $175.21 on Thursday. The company has a fifty day moving average price of $176.22 and a 200 day moving average price 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 Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The stock has a market cap of $309.62 billion, a price-to-earnings ratio of 60.84, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the company earned $2.95 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ABBV. Citigroup cut their price objective on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays lifted their price objective on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group boosted their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Five investment 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 company. Based on data from MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

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.