Bank Pictet & Cie Europe AG Purchases 78,930 Shares of AbbVie Inc. (NYSE:ABBV)

Bank Pictet & Cie Europe AG grew its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 38.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 284,441 shares of the company's stock after purchasing an additional 78,930 shares during the period. AbbVie comprises approximately 1.4% of Bank Pictet & Cie Europe AG's holdings, making the stock its 20th biggest holding. Bank Pictet & Cie Europe AG's holdings in AbbVie were worth $59,596,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. EnRich Financial Partners LLC raised its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new position in AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in AbbVie during the 4th quarter worth about $31,000. Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter valued at about $32,000. Finally, Pinney & Scofield Inc. bought a new position in shares of AbbVie in the fourth quarter worth about $36,000. Institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was 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 in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by company insiders.

AbbVie Stock Performance

Shares of ABBV traded down $5.45 during midday trading on Tuesday, reaching $185.41. The stock had a trading volume of 4,732,710 shares, compared to its average volume of 6,245,958. The firm has a market cap of $327.51 billion, a PE ratio of 18.58, a P/E/G ratio of 1.27 and a beta of 0.50. The firm has a 50 day simple moving average of $184.53 and a 200-day simple moving average of $187.61. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a current ratio of 0.76, a quick ratio of 0.64 and a debt-to-equity ratio of 44.14.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Citigroup raised their price target on shares of AbbVie to $205.00 and gave the company a "hold" rating in a report on Wednesday, June 11th. Evercore ISI boosted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Bank of America upped their target price on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.29.

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.