AbbVie Inc. (NYSE:ABBV) Shares Purchased by Grandview Asset Management LLC

Grandview Asset Management LLC increased its position in AbbVie Inc. (NYSE:ABBV) by 0.5% in the first quarter, HoldingsChannel reports. The firm owned 17,935 shares of the company’s stock after acquiring an additional 85 shares during the period. AbbVie accounts for about 1.4% of Grandview Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Grandview Asset Management LLC’s holdings in AbbVie were worth $3,758,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of AbbVie by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company’s stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC lifted its position in AbbVie by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company’s stock worth $6,586,948,000 after acquiring an additional 983,888 shares during the last quarter. Capital Research Global Investors lifted its position in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company’s stock worth $6,038,898,000 after acquiring an additional 778,126 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company’s stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie during the fourth quarter valued at about $4,459,385,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Trading Down 2.9%

Shares of NYSE ABBV opened at $185.41 on Wednesday. The company’s 50 day simple moving average is $184.64 and its 200 day simple moving average is $187.59. AbbVie Inc. has a fifty-two week low of $163.52 and a fifty-two week high of $218.66. The firm has a market capitalization of $327.51 billion, a P/E ratio of 78.90, a P/E/G ratio of 1.27 and a beta of 0.50. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.76 and a quick ratio of 0.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The business had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. AbbVie’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Bank of America upped their price objective on shares of AbbVie to $204.00 and gave the company a “hold” rating in a research report on Monday, June 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. BNP Paribas raised shares of AbbVie to a “hold” rating in a research report on Thursday, May 8th. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley upped their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus price target of $211.29.

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.