Mediolanum International Funds Ltd Grows Position in AbbVie Inc. (NYSE:ABBV)

Mediolanum International Funds Ltd boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212,854 shares of the company’s stock after acquiring an additional 23,922 shares during the quarter. Mediolanum International Funds Ltd’s holdings in AbbVie were worth $37,413,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in 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 in the last quarter. FMR LLC increased its position in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 in the last quarter. Finally, International Assets Investment Management LLC increased its position in 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 in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ABBV shares. 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. Morgan Stanley dropped their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research note on Thursday, December 5th. Wolfe Research assumed coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.00.

AbbVie Price Performance

Shares of NYSE ABBV opened at $175.54 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business has a 50 day simple moving average of $176.37 and a 200-day simple moving average of $184.90. The company has a market capitalization of $310.21 billion, a price-to-earnings ratio of 60.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

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