Murphy Pohlad Asset Management LLC Acquires 2,268 Shares of AbbVie Inc. (NYSE:ABBV)

Murphy Pohlad Asset Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV - Free Report) by 143.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,849 shares of the company's stock after buying an additional 2,268 shares during the period. Murphy Pohlad Asset Management LLC's holdings in AbbVie were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of AbbVie in the 4th quarter valued at $4,459,385,000. GAMMA Investing LLC grew its holdings in shares of AbbVie by 25,841.6% during the first quarter. GAMMA Investing LLC now owns 10,234,737 shares of the company's stock worth $2,144,382,000 after purchasing an additional 10,195,284 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $1,190,951,000. FMR LLC raised its holdings in AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in AbbVie by 15.1% in 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. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

NYSE ABBV opened at $190.67 on Monday. The company has a fifty day moving average price of $184.21 and a 200-day moving average price of $187.55. The firm has a market cap of $336.80 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.62 and a beta of 0.50. 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 Inc. has a 1 year low of $163.52 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The business had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.31 EPS. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on ABBV shares. Bank of America upped 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. Guggenheim increased their target price on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. BNP Paribas raised shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Evercore ISI lifted their price objective on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Eight equities research 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 MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average target price of $211.29.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction 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 directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.

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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