ProShare Advisors LLC Raises Stock Position in AbbVie Inc. (NYSE:ABBV)

ProShare Advisors LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,262,493 shares of the company's stock after purchasing an additional 10,064 shares during the period. ProShare Advisors LLC owned approximately 0.07% of AbbVie worth $224,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC increased its holdings in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after buying an additional 52 shares in the last quarter. Peninsula Wealth LLC increased its holdings in AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after buying an additional 54 shares in the last quarter. Physicians Financial Services Inc. grew its position in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares during the period. Finally, Armstrong Advisory Group Inc. grew its position in shares of AbbVie by 0.6% in the fourth quarter. Armstrong Advisory Group Inc. now owns 9,842 shares of the company's stock valued at $1,749,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 70.23% of the company's stock.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This represents a 20.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares in the company, valued at approximately $2,338,401.36. The trade was a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. 0.25% of the stock is currently owned by insiders.

AbbVie Stock Performance

NYSE:ABBV opened at $177.30 on Thursday. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The firm has a market capitalization of $313.64 billion, a price-to-earnings ratio of 73.88, a PEG ratio of 1.62 and a beta of 0.56. The company's 50-day moving average is $192.59 and its two-hundred day moving average is $187.16. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66.

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 firm had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the business posted $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Wall Street Analyst Weigh In

ABBV has been the topic of several research analyst reports. StockNews.com upgraded shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. BMO Capital Markets lifted their target price on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Citigroup reiterated a "neutral" rating and issued a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research report on Wednesday. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research report on Monday, March 17th. Finally, Morgan Stanley lifted their target price on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Eight research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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.

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