OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 6,342 Shares of AbbVie Inc. (NYSE:ABBV)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 553.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,488 shares of the company's stock after purchasing an additional 6,342 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in AbbVie were worth $1,331,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth approximately $29,000. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new position in AbbVie during the 4th quarter worth $30,000. Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie during the 4th quarter worth $31,000. Finally, Prudent Man Investment Management Inc. acquired a new position in AbbVie in the 4th quarter valued at $32,000. Institutional investors own 70.23% of the company's stock.

AbbVie Trading Up 1.3%

AbbVie stock traded up $2.34 during trading hours on Friday, reaching $184.02. 6,151,228 shares of the company's stock were exchanged, compared to its average volume of 6,235,724. The firm has a market capitalization of $325.53 billion, a PE ratio of 76.68, a PEG ratio of 1.62 and a beta of 0.56. 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 firm's 50 day simple moving average is $191.89 and its 200 day simple moving average is $187.11. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. The company had revenue of $13.34 billion during 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%. AbbVie's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 EPS. Research analysts predict that AbbVie Inc. will post 12.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald started coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Bank of America increased their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. UBS Group boosted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Finally, StockNews.com upgraded AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 18,944 shares of the 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.

About AbbVie

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.