Czech National Bank raised its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 405,475 shares of the company's stock after acquiring an additional 22,324 shares during the quarter. AbbVie makes up 0.8% of Czech National Bank's holdings, making the stock its 22nd biggest position. Czech National Bank's holdings in AbbVie were worth $84,955,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of ABBV. EnRich Financial Partners LLC increased its holdings in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC bought a new position in AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie in the fourth quarter worth about $31,000. Prudent Man Investment Management Inc. bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at approximately $36,000. 70.23% of the stock is owned by institutional investors.
Insider Transactions at AbbVie
In related 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 value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company's stock.
AbbVie Price Performance
Shares of NYSE:ABBV traded up $0.19 during trading on Tuesday, reaching $187.18. The company had a trading volume of 5,331,389 shares, compared to its average volume of 6,232,595. The company has a fifty day moving average of $185.68 and a two-hundred day moving average of $186.64. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $330.63 billion, a P/E ratio of 77.99, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 12 month low of $158.83 and a 12 month high of $218.66.
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. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post 12.31 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on ABBV. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 22nd. UBS Group lifted their price target on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. BMO Capital Markets boosted their price objective on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, April 28th. Finally, Raymond James reiterated an "outperform" rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has a consensus rating of "Moderate Buy" and an average target price of $210.95.
Check Out Our Latest Stock Report on ABBV
AbbVie Company Profile
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Free Report)
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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