Raiffeisen Bank International AG Makes New Investment in AbbVie Inc. (NYSE:ABBV)

Raiffeisen Bank International AG acquired a new position in AbbVie Inc. (NYSE:ABBV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 354,255 shares of the company's stock, valued at approximately $62,420,000. AbbVie accounts for approximately 0.9% of Raiffeisen Bank International AG's investment portfolio, making the stock its 25th biggest position.

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

AbbVie Price 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 company has a 50 day moving average price of $192.59 and a 200-day moving average price of $187.16. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $218.66. The firm has a market cap of $313.64 billion, a price-to-earnings ratio of 73.88, 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 for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same quarter in the previous year, the company earned $2.31 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post 12.31 EPS for the current year.

Insider Activity

In other news, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock worth $23,426,451 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Citigroup restated a "neutral" rating and set a $205.00 price objective (down from $210.00) on shares of AbbVie in a research note on Wednesday. BMO Capital Markets raised their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Bank of America lifted their price target on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $210.95.

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.

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