Mackenzie Financial Corp Buys 1,353,971 Shares of AbbVie Inc. (NYSE:ABBV)

Mackenzie Financial Corp grew its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 58.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,682,224 shares of the company's stock after purchasing an additional 1,353,971 shares during the quarter. AbbVie comprises about 0.9% of Mackenzie Financial Corp's portfolio, making the stock its 26th biggest position. Mackenzie Financial Corp owned approximately 0.21% of AbbVie worth $654,331,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crestline Management LP raised its stake 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 buying an additional 28,753 shares during the period. Dimensional Fund Advisors LP raised its stake 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 buying an additional 108,993 shares during the period. Quantbot Technologies LP raised its stake 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 buying an additional 276 shares during the period. AXA S.A. raised its stake in 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 during the period. Finally, Keystone Financial Group raised its stake in 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 during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

AbbVie Stock Performance

NYSE ABBV traded down $2.74 on Wednesday, hitting $182.98. 4,783,938 shares of the stock traded hands, compared to its average volume of 6,246,369. The business's fifty day moving average is $187.30 and its two-hundred day moving average is $186.11. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The firm has a market capitalization of $323.22 billion, a price-to-earnings ratio of 76.24, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating 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 business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company earned $2.31 earnings per share. AbbVie's revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Morgan Stanley boosted their price objective on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, April 28th. Wells Fargo & Company boosted their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Finally, Bank of America boosted their price objective on AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.