Gateway Investment Advisers LLC Purchases 15,915 Shares of AbbVie Inc. (NYSE:ABBV)

Gateway Investment Advisers LLC grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,966 shares of the company's stock after buying an additional 15,915 shares during the quarter. AbbVie makes up 0.9% of Gateway Investment Advisers LLC's portfolio, making the stock its 22nd largest position. Gateway Investment Advisers LLC's holdings in AbbVie were worth $80,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ABBV. Norges Bank bought a new stake in shares of AbbVie in the 4th quarter valued at about $4,459,385,000. GAMMA Investing LLC grew its stake in AbbVie by 25,841.6% in the 1st quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock valued at $2,144,382,000 after buying an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. acquired a new position in AbbVie in the 4th quarter valued at about $1,190,951,000. FMR LLC grew its stake in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Trading Up 1.3%

Shares of ABBV stock traded up $2.42 during mid-day trading on Friday, hitting $189.89. The company's stock had a trading volume of 3,604,574 shares, compared to its average volume of 6,241,127. The company's fifty day simple moving average is $184.24 and its 200-day simple moving average is $187.09. AbbVie Inc. has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The company has a market cap of $335.42 billion, a PE ratio of 79.12, a P/E/G ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business's quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $2.31 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Guggenheim upped their price target on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI upped their price target on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Citigroup reiterated a "neutral" rating and issued a $205.00 price target (down previously from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 target price on the stock. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, AbbVie has a consensus rating of "Moderate Buy" and a consensus target price of $212.19.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.25% of the company's stock.

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.