Sphera Funds Management LTD. reduced its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,256 shares of the company's stock after selling 3,744 shares during the quarter. Sphera Funds Management LTD.'s holdings in AbbVie were worth $6,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in AbbVie by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock worth $30,754,908,000 after buying an additional 1,424,237 shares during the last quarter. Geode Capital Management LLC grew its position in shares of AbbVie by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock valued at $6,586,948,000 after purchasing an additional 983,888 shares in the last quarter. Capital Research Global Investors grew its position in shares of AbbVie by 2.3% in the fourth quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after purchasing an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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, Norges Bank purchased a new position in shares of AbbVie in the fourth quarter valued at $4,459,385,000. 70.23% of the stock is owned by hedge funds and other institutional investors.
AbbVie Trading Up 2.3%
ABBV opened at $181.52 on Friday. The business has a 50 day simple moving average of $191.89 and a two-hundred day simple moving average of $187.11. The firm has a market capitalization of $321.10 billion, a price-to-earnings ratio of 75.63, a PEG ratio of 1.62 and a beta of 0.56. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie Inc. has a one year low of $153.58 and a one year high of $218.66.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The firm had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. During the same quarter in the prior year, the company earned $2.31 EPS. The business's revenue was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.
Insider Transactions at AbbVie
In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock valued at $23,426,451. Corporate insiders own 0.25% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on ABBV. Morgan Stanley lifted their price target on AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Evercore ISI boosted their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Finally, Truist Financial upped their price objective on AbbVie from $211.00 to $217.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie currently has an average rating of "Moderate Buy" and an average target price of $210.95.
Get Our Latest Research Report on AbbVie
AbbVie Company Profile
(
Free Report)
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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