PKO Investment Management Joint Stock Co Boosts Stake in AbbVie Inc. (NYSE:ABBV)

PKO Investment Management Joint Stock Co boosted its stake in AbbVie Inc. (NYSE:ABBV - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the company's stock after purchasing an additional 2,500 shares during the quarter. PKO Investment Management Joint Stock Co's holdings in AbbVie were worth $3,352,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $32,000. Finally, Pinney & Scofield Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective on the stock. Guggenheim increased their price objective on shares of AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.29.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were 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 in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company's stock.

AbbVie Stock Down 0.1%

Shares of NYSE ABBV traded down $0.22 during midday trading on Thursday, reaching $185.26. 3,572,665 shares of the company's stock traded hands, compared to its average volume of 6,243,189. The company has a quick ratio of 0.64, a current ratio of 0.76 and a debt-to-equity ratio of 44.14. The stock's 50 day simple moving average is $184.98 and its 200-day simple moving average is $187.60. AbbVie Inc. has a one year low of $163.52 and a one year high of $218.66. The company has a market cap of $327.24 billion, a price-to-earnings ratio of 78.83, a P/E/G ratio of 1.23 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.31% and a return on equity of 412.03%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period last year, the firm earned $2.31 earnings per share. The company's quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

About AbbVie

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.