Zurich Insurance Group Ltd FI Has $74.69 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Zurich Insurance Group Ltd FI raised its position in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 11.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,327 shares of the company's stock after purchasing an additional 43,991 shares during the period. Zurich Insurance Group Ltd FI's holdings in AbbVie were worth $74,692,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ABBV. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at about $29,000. EnRich Financial Partners LLC increased its position 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 buying an additional 110 shares during the period. Promus Capital LLC bought a new stake in shares of AbbVie in the fourth quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $31,000. Finally, Prudent Man Investment Management Inc. bought a new position in AbbVie during the fourth quarter worth $32,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Trading Up 0.3%

Shares of ABBV traded up $0.52 on Thursday, reaching $182.32. 4,684,698 shares of the company's stock were exchanged, compared to its average volume of 6,253,258. The business has a 50 day moving average price of $189.64 and a two-hundred day moving average price of $186.68. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $218.66. The stock has a market capitalization of $322.05 billion, a P/E ratio of 75.97, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating 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 company had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm's quarterly revenue was up 8.4% on a year-over-year basis. Research analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were 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 directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly 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 have sold 107,693 shares of company stock valued at $22,282,985 in the last 90 days. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ABBV shares. Evercore ISI raised their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Raymond James reissued an "outperform" rating and set a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. UBS Group boosted their price objective on AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Citigroup reaffirmed a "neutral" rating and issued a $205.00 target price (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and an average target price 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.