GF Fund Management CO. LTD. Buys New Stake in AbbVie Inc. (NYSE:ABBV)

GF Fund Management CO. LTD. bought a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 43,260 shares of the company's stock, valued at approximately $7,687,000.

Other hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in AbbVie during the 4th quarter valued at $29,000. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie in the 4th quarter worth about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie in the 4th quarter worth about $32,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Performance

AbbVie stock traded up $2.26 during midday trading on Tuesday, hitting $185.52. The stock had a trading volume of 5,720,849 shares, compared to its average volume of 6,252,208. The firm's fifty day moving average is $187.82 and its two-hundred day moving average is $186.11. The company has a market capitalization of $327.70 billion, a PE ratio of 77.30, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results 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. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. On average, research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This trade represents a 40.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 107,693 shares of company stock valued at $22,282,985. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ABBV. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. UBS Group increased their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Truist Financial increased their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $210.95.

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.