Mather Group LLC. Raises Holdings in AbbVie Inc. (NYSE:ABBV)

Mather Group LLC. boosted its stake in AbbVie Inc. (NYSE:ABBV) by 3.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 29,734 shares of the company’s stock after acquiring an additional 950 shares during the period. Mather Group LLC.’s holdings in AbbVie were worth $5,284,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Atlanta Consulting Group Advisors LLC purchased a new stake in AbbVie during the 3rd quarter worth about $999,000. Saturna Capital Corp boosted its stake in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. raised its position in shares of AbbVie by 41.3% in the fourth quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of AbbVie by 9.5% during the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after buying an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after acquiring an additional 10,768 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on ABBV. Guggenheim increased their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup increased their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley upped their price objective on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Stock Up 3.4 %

Shares of NYSE:ABBV opened at $190.20 on Tuesday. The company has a 50 day moving average of $176.57 and a two-hundred day moving average of $185.13. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $336.12 billion, a price-to-earnings ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter last year, the business earned $2.79 EPS. As a group, analysts forecast that AbbVie Inc. will post 12.26 earnings per share for the current fiscal year.

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.