PKO Investment Management Joint Stock Co Invests $2.40 Million in AbbVie Inc. (NYSE:ABBV)

PKO Investment Management Joint Stock Co acquired a new stake in AbbVie Inc. (NYSE:ABBV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,500 shares of the company's stock, valued at approximately $2,399,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $29,000. EnRich Financial Partners LLC raised its stake in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $31,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated 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 approximately $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ABBV shares. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Wells Fargo & Company upped their price objective on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, March 5th. UBS Group upped their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. BMO Capital Markets upped their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, February 3rd. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average price target of $210.95.

AbbVie Price Performance

Shares of ABBV traded down $0.09 during trading hours on Friday, reaching $185.53. 11,606,785 shares of the company traded hands, compared to its average volume of 6,243,426. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a market capitalization of $327.72 billion, a PE ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a fifty-two week low of $158.83 and a fifty-two week high of $218.66. The stock has a fifty day simple moving average of $185.97 and a 200 day simple moving average of $186.49.

AbbVie (NYSE:ABBV - Get Free Report) last released its 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. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, research 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.