AbbVie Inc. (NYSE:ABBV) Shares Acquired by Wade G W & Inc.

Wade G W & Inc. boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 15.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,478 shares of the company’s stock after purchasing an additional 5,683 shares during the period. Wade G W & Inc.’s holdings in AbbVie were worth $7,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Edmp Inc. lifted its stake in AbbVie by 15,607.4% in the 4th quarter. Edmp Inc. now owns 5,249,578 shares of the company’s stock worth $32,483,000 after acquiring an additional 5,216,157 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in AbbVie by 426.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after purchasing an additional 3,768,579 shares during the last quarter. Vanguard Group Inc. grew its stake in AbbVie by 1.6% in the third quarter. Vanguard Group Inc. now owns 156,022,414 shares of the company’s stock valued at $20,939,769,000 after purchasing an additional 2,442,663 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in AbbVie by 146.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,352,924 shares of the company’s stock worth $219,322,000 after purchasing an additional 804,700 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of AbbVie by 22.0% during the 4th quarter. First Trust Advisors LP now owns 3,802,012 shares of the company’s stock worth $614,446,000 after purchasing an additional 686,191 shares in the last quarter. 67.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ABBV shares. Wolfe Research lowered shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 22nd. They noted that the move was a valuation call. Piper Sandler raised their target price on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Wells Fargo & Company cut their target price on AbbVie from $200.00 to $195.00 in a report on Friday, April 28th. Argus lowered AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Finally, BMO Capital Markets dropped their price target on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus price target of $163.40.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $152.28, for a total value of $8,089,875.00. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $9,280,095.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Jeffrey Ryan Stewart sold 53,125 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the sale, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $9,280,095.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Perry C. Siatis sold 3,520 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total value of $563,200.00. Following the sale, the executive vice president now owns 10,377 shares in the company, valued at $1,660,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,356 shares of company stock worth $19,901,151. Company insiders own 0.26% of the company’s stock.

AbbVie Stock Performance

ABBV traded down $0.16 on Friday, hitting $138.46. 1,715,538 shares of the stock traded hands, compared to its average volume of 5,815,349. AbbVie Inc. has a 52 week low of $134.09 and a 52 week high of $168.11. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46. The firm has a market capitalization of $244.28 billion, a PE ratio of 32.77, a P/E/G ratio of 2.57 and a beta of 0.58. The business has a fifty day moving average price of $154.18 and a two-hundred day moving average price of $154.85.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.02. The firm had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.16 EPS. On average, research analysts predict that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.