Sky Investment Group LLC lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,844 shares of the company’s stock after acquiring an additional 129 shares during the period. AbbVie accounts for approximately 1.7% of Sky Investment Group LLC’s portfolio, making the stock its 19th biggest holding. Sky Investment Group LLC’s holdings in AbbVie were worth $8,977,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Crestline Management LP boosted its stake in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company’s stock worth $6,275,000 after buying an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company’s stock worth $1,664,489,000 after buying an additional 108,993 shares during the last quarter. Quantbot Technologies LP boosted its stake in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company’s stock worth $186,000 after buying an additional 276 shares during the last quarter. AXA S.A. boosted its stake in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company’s stock worth $172,705,000 after buying an additional 125,568 shares during the last quarter. Finally, Keystone Financial Group boosted its stake in AbbVie by 0.9% in the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company’s stock worth $3,190,000 after buying an additional 161 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
Wall Street Analysts Forecast Growth
ABBV has been the topic of a number of research analyst reports. Erste Group Bank raised AbbVie to a “strong-buy” rating in a research note on Monday, March 17th. Cantor Fitzgerald initiated coverage on AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective on the stock. Guggenheim raised their price objective on AbbVie from $214.00 to $216.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. BNP Paribas upgraded AbbVie to a “hold” rating in a report on Thursday, May 8th. Finally, Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $211.29.
AbbVie Price Performance
ABBV stock opened at $192.27 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $163.52 and a 52-week high of $218.66. The stock’s 50 day moving average is $183.90 and its two-hundred day moving average is $187.43. The company has a market capitalization of $339.63 billion, a PE ratio of 80.11, a P/E/G ratio of 1.62 and a beta of 0.50.
AbbVie (NYSE:ABBV – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the business earned $2.31 EPS. AbbVie’s revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company 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.
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