PVG Asset Management Corp Makes New Investment in AbbVie Inc. (NYSE:ABBV)

PVG Asset Management Corp acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,391 shares of the company's stock, valued at approximately $425,000. AbbVie accounts for 2.0% of PVG Asset Management Corp's portfolio, making the stock its 20th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crestline Management LP increased its holdings in AbbVie by 438.4% in the 4th quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after acquiring an additional 28,753 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in AbbVie by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after acquiring an additional 108,993 shares in the last quarter. Quantbot Technologies LP increased its holdings in AbbVie by 35.8% in the 4th quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after acquiring an additional 276 shares in the last quarter. AXA S.A. increased its holdings in AbbVie by 14.8% in the 4th quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after acquiring an additional 125,568 shares in the last quarter. Finally, Keystone Financial Group grew its holdings in shares of AbbVie by 0.9% during the fourth quarter. Keystone Financial Group now owns 17,952 shares of the company's stock worth $3,190,000 after buying an additional 161 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company's stock.

AbbVie Stock Down 1.5%

AbbVie stock traded down $2.74 during mid-day trading on Wednesday, hitting $182.98. The company had a trading volume of 4,783,938 shares, compared to its average volume of 6,249,225. The stock has a market cap of $323.22 billion, a price-to-earnings ratio of 76.24, a PEG ratio of 1.62 and a beta of 0.56. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. 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 business has a fifty day moving average of $187.30 and a 200 day moving average of $186.11.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. On average, sell-side analysts expect that AbbVie Inc. will post 12.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ABBV shares. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Bank of America upped their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Citigroup reaffirmed a "neutral" rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a report on Wednesday, May 14th. Morgan Stanley boosted their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Finally, Wells Fargo & Company boosted their price target on shares of AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.

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.