Siemens Fonds Invest GmbH Acquires 119,141 Shares of AbbVie Inc. (NYSE:ABBV)

Siemens Fonds Invest GmbH increased its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 197.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,440 shares of the company's stock after buying an additional 119,141 shares during the period. Siemens Fonds Invest GmbH's holdings in AbbVie were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ABBV. Fiduciary Advisors Inc. bought a new position in shares of AbbVie in the fourth quarter worth $29,000. EnRich Financial Partners LLC increased its stake 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 purchased a new stake in shares of AbbVie in the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of AbbVie during the fourth quarter worth about $32,000. Institutional investors own 70.23% of the company's stock.

Insider Activity at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction on 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 completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Trading Up 0.7%

AbbVie stock traded up $1.23 during mid-day trading on Wednesday, reaching $188.48. 1,281,638 shares of the company traded hands, compared to its average volume of 6,220,204. 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 52-week low of $159.77 and a 52-week high of $218.66. The firm has a market capitalization of $332.93 billion, a price-to-earnings ratio of 78.53, a P/E/G ratio of 1.62 and a beta of 0.56. The firm's 50 day moving average price is $185.37 and its 200 day moving average price is $186.65.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 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 business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same period last year, the business posted $2.31 earnings per share. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts anticipate 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 recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price on the stock. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. BNP Paribas upgraded AbbVie to a "hold" rating in a report on Thursday, May 8th. The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a report on Tuesday, April 8th. Finally, Wells Fargo & Company increased 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 equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and an average 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.