AbbVie Inc. (NYSE:ABBV) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,251 shares of the company’s stock after purchasing an additional 59,718 shares during the period. AbbVie comprises 1.3% of Intech Investment Management LLC’s portfolio, making the stock its 10th largest position. Intech Investment Management LLC’s holdings in AbbVie were worth $92,091,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new stake in AbbVie in the fourth quarter valued at $44,000. Core Wealth Advisors Inc. grew its position in shares of AbbVie by 459.7% in the 3rd quarter. Core Wealth Advisors Inc. now owns 347 shares of the company’s stock worth $52,000 after acquiring an additional 285 shares in the last quarter. Bourgeon Capital Management LLC increased its holdings in shares of AbbVie by 240.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 340 shares of the company’s stock valued at $53,000 after acquiring an additional 240 shares during the last quarter. Naples Money Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at approximately $53,000. Finally, Rakuten Securities Inc. acquired a new position in AbbVie in the fourth quarter worth $57,000. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of AbbVie stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the transaction, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. Insiders have sold 302,561 shares of company stock worth $53,645,658 over the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on ABBV shares. Barclays cut their target price on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Guggenheim boosted their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James increased their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Finally, William Blair upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $176.14.

AbbVie Trading Down 0.8 %

Shares of ABBV traded down $1.20 during midday trading on Friday, hitting $157.06. The stock had a trading volume of 3,691,730 shares, compared to its average volume of 5,267,838. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a market cap of $277.35 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The business has a 50-day simple moving average of $167.94 and a two-hundred day simple moving average of $163.20.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $2.46 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 11.26 EPS 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.