Armis Advisers LLC Makes New $436,000 Investment in AbbVie Inc. (NYSE:ABBV)

Armis Advisers LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,452 shares of the company's stock, valued at approximately $436,000.

A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in AbbVie in the fourth quarter valued at about $4,459,385,000. Raymond James Financial Inc. acquired a new stake in AbbVie during the fourth quarter worth approximately $1,190,951,000. FMR LLC boosted its position in AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock worth $3,215,903,000 after acquiring an additional 4,466,971 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock worth $4,875,401,000 after acquiring an additional 3,599,336 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock valued at $3,064,773,000 after purchasing an additional 3,373,156 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Stock Down 0.0%

AbbVie stock traded down $0.09 during midday trading on Friday, hitting $185.53. 11,606,785 shares of the stock were exchanged, compared to its average volume of 6,243,426. The stock has a market capitalization of $327.72 billion, a price-to-earnings ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52-week low of $158.83 and a 52-week high of $218.66. The business's 50-day moving average price is $185.97 and its 200-day moving average price is $186.37.

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

Insiders Place Their Bets

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction 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 transaction, the executive vice president now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research report on Tuesday, April 8th. BMO Capital Markets upped their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. Finally, Raymond James restated an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average 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.