Clarius Group LLC Increases Holdings in AbbVie Inc. (NYSE:ABBV)

Clarius Group LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 26.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,148 shares of the company's stock after purchasing an additional 4,218 shares during the quarter. Clarius Group LLC's holdings in AbbVie were worth $4,221,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ABBV. Vanguard Group Inc. increased its stake in shares of AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after acquiring an additional 1,424,237 shares during the period. Geode Capital Management LLC boosted its holdings in AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after purchasing an additional 983,888 shares during the last quarter. Capital Research Global Investors grew its position in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock worth $6,038,898,000 after purchasing an additional 778,126 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of AbbVie by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after buying an additional 3,599,336 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of AbbVie in the 4th quarter valued at about $4,459,385,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABBV. Morgan Stanley raised 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. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, March 5th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Bank of America raised their price target on shares of AbbVie to $204.00 and gave the company a "hold" rating in a research report on Monday, June 9th. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.29.

AbbVie Stock Down 2.9%

Shares of ABBV opened at $185.41 on Wednesday. The stock has a 50 day moving average price of $184.64 and a 200 day moving average price of $187.59. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a market capitalization of $327.51 billion, a price-to-earnings ratio of 78.90, a PEG ratio of 1.27 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last announced 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. The company had revenue of $13.34 billion for the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm's quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's 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 directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

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.

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