AbbVie Inc. (NYSE:ABBV) Stock Position Boosted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,058,706 shares of the company's stock after acquiring an additional 1,882,780 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.68% of AbbVie worth $2,142,832,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in AbbVie during the fourth quarter worth about $309,000. Capital & Planning LLC boosted its holdings in AbbVie by 1.7% during the fourth quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock worth $1,109,000 after buying an additional 105 shares in the last quarter. Ameritas Advisory Services LLC boosted its holdings in AbbVie by 18.0% during the fourth quarter. Ameritas Advisory Services LLC now owns 23,936 shares of the company's stock worth $4,254,000 after buying an additional 3,657 shares in the last quarter. Aaron Wealth Advisors LLC boosted its holdings in AbbVie by 6.5% during the fourth quarter. Aaron Wealth Advisors LLC now owns 10,719 shares of the company's stock worth $1,905,000 after buying an additional 651 shares in the last quarter. Finally, Stillwater Capital Advisors LLC boosted its holdings in AbbVie by 1.1% during the fourth quarter. Stillwater Capital Advisors LLC now owns 90,816 shares of the company's stock worth $16,138,000 after buying an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Trading Up 0.5%

ABBV traded up $0.97 during trading on Friday, hitting $183.51. 4,026,933 shares of the company's stock were exchanged, compared to its average volume of 6,244,068. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a 50 day moving average price of $188.39 and a 200 day moving average price of $186.43. The firm has a market cap of $324.15 billion, a P/E ratio of 76.46, 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 data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. AbbVie's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 earnings per share. As a group, analysts expect that AbbVie Inc. will post 12.31 EPS for the current fiscal year.

Insider Activity

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now directly owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares in the company, valued at $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,693 shares of company stock worth $22,282,985. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ABBV shares. Citigroup restated a "neutral" rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim lifted their target price 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. Eight equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $210.95.

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.