Quantinno Capital Management LP Has $33.66 Million Holdings in AbbVie Inc. (NYSE:ABBV)

Quantinno Capital Management LP increased its holdings in shares of AbbVie Inc. (NYSE:ABBV - Free Report) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,431 shares of the company's stock after buying an additional 31,871 shares during the quarter. Quantinno Capital Management LP's holdings in AbbVie were worth $33,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ABBV. Norges Bank purchased a new position in shares of AbbVie during the fourth quarter valued at $4,459,385,000. Raymond James Financial Inc. purchased a new position in shares of AbbVie during the fourth quarter valued at $1,190,951,000. FMR LLC grew its holdings in shares of AbbVie by 32.8% during the fourth quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in AbbVie by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in AbbVie by 24.3% in the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after purchasing an additional 3,373,156 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.

Analyst Ratings Changes

ABBV has been the topic of several research reports. Wells Fargo & Company upped their target price on AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. BMO Capital Markets upped their target price 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 upped their target price on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. StockNews.com raised AbbVie from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Guggenheim upped their target price on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.95.

Insider Transactions at AbbVie

In related news, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the sale, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction 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 directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company's stock.

AbbVie Price Performance

Shares of ABBV traded up $2.34 during mid-day trading on Friday, reaching $184.02. The company had a trading volume of 6,151,228 shares, compared to its average volume of 6,242,099. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $218.66. 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 company's 50-day moving average is $191.89 and its 200-day moving average is $187.11. The company has a market capitalization of $325.53 billion, a P/E ratio of 76.68, a P/E/G ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) 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 business had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the firm posted $2.31 EPS. AbbVie's quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post 12.31 EPS for the current year.

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.