State of Wyoming Buys 6,612 Shares of AbbVie Inc. (NYSE:ABBV)

State of Wyoming boosted its stake in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 66,120.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,622 shares of the company's stock after acquiring an additional 6,612 shares during the quarter. State of Wyoming's holdings in AbbVie were worth $1,177,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ABBV. Crestline Management LP increased its position in AbbVie by 438.4% in the fourth quarter. Crestline Management LP now owns 35,311 shares of the company's stock worth $6,275,000 after purchasing an additional 28,753 shares during the period. Dimensional Fund Advisors LP increased its position in AbbVie by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,367,162 shares of the company's stock worth $1,664,489,000 after purchasing an additional 108,993 shares during the period. Quantbot Technologies LP increased its position in AbbVie by 35.8% in the fourth quarter. Quantbot Technologies LP now owns 1,047 shares of the company's stock worth $186,000 after purchasing an additional 276 shares during the period. AXA S.A. increased its position in AbbVie by 14.8% in the fourth quarter. AXA S.A. now owns 971,893 shares of the company's stock worth $172,705,000 after purchasing an additional 125,568 shares during the period. Finally, Sky Investment Group LLC increased its position in AbbVie by 10.1% in the fourth quarter. Sky Investment Group LLC now owns 42,715 shares of the company's stock worth $7,590,000 after purchasing an additional 3,936 shares during the period. Institutional investors own 70.23% of the company's stock.

Insiders Place Their Bets

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total value of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 in the last quarter. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group restated a "neutral" rating and set a $194.00 target price on shares of AbbVie in a research report on Tuesday, April 8th. Bank of America upped their price target on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Evercore ISI upped their price target on AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. BMO Capital Markets upped their price target on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Trading Up 1.3%

NYSE:ABBV opened at $184.02 on Friday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month 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 50 day moving average price of $191.30 and a two-hundred day moving average price of $186.97. The company has a market cap of $325.06 billion, a P/E ratio of 76.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the firm posted $2.31 EPS. The business's revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

AbbVie 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.