BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in AbbVie Inc. (NYSE:ABBV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 338,238 shares of the company's stock after buying an additional 43,594 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in AbbVie were worth $60,105,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Blue Bell Private Wealth Management LLC lifted its stake in AbbVie by 30.4% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC lifted its stake in AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC lifted its stake in AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its stake in AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after purchasing an additional 55 shares in the last quarter. Finally, Sound Financial Strategies Group LLC lifted its stake in AbbVie by 5.3% in the 4th quarter. Sound Financial Strategies Group LLC now owns 1,197 shares of the company's stock worth $213,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's 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 completion of the transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at approximately $4,429,199.90. This trade represents a 20.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,471 shares of company stock worth $23,426,451. Company insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of ABBV stock opened at $184.75 on Wednesday. The company's 50-day simple moving average is $190.24 and its two-hundred day simple moving average is $186.71. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66. The company has a market capitalization of $326.34 billion, a P/E ratio of 76.98, a P/E/G ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55.

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 the consensus estimate of $2.40 by $0.06. The firm had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company's revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ABBV shares. The Goldman Sachs Group reiterated a "neutral" rating and issued a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. 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. Evercore ISI boosted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Truist Financial boosted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Eight investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

AbbVie Company 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.

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