Mackenzie Financial Corp Increases Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Mackenzie Financial Corp grew its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 58.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,682,224 shares of the company's stock after acquiring an additional 1,353,971 shares during the quarter. AbbVie accounts for approximately 0.9% of Mackenzie Financial Corp's investment portfolio, making the stock its 26th largest position. Mackenzie Financial Corp owned 0.21% of AbbVie worth $654,331,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ABBV. Crestline Management LP raised its holdings in AbbVie by 438.4% during the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in AbbVie by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the last quarter. Quantbot Technologies LP raised its holdings in AbbVie by 35.8% during the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the last quarter. AXA S.A. boosted its holdings in shares of AbbVie by 14.8% during the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after buying an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group boosted its holdings in shares of AbbVie by 0.9% during the 4th quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ABBV. Wells Fargo & Company increased their price target on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. Evercore ISI increased their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Morgan Stanley increased their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wall Street Zen cut AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a report on Tuesday, April 8th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Stock Performance

ABBV stock traded up $2.26 during midday trading on Tuesday, reaching $185.52. 5,720,849 shares of the company's stock traded hands, compared to its average volume of 6,252,208. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $218.66. The stock has a market cap of $327.70 billion, a P/E ratio of 77.30, a PEG ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock's 50-day moving average is $187.82 and its 200 day moving average is $186.11.

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

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This trade represents a 62.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,693 shares of company stock valued at $22,282,985 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.