Bellevue Group AG raised its position in AbbVie Inc. (NYSE:ABBV – Get Rating) by 2,003.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,997 shares of the company’s stock after purchasing an additional 16,189 shares during the period. Bellevue Group AG’s holdings in AbbVie were worth $2,281,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in ABBV. O Dell Group LLC lifted its stake in AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Activest Wealth Management purchased a new stake in shares of AbbVie in the third quarter valued at $31,000. Heritage Wealth Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $37,000. Clear Perspectives Financial Planning LLC purchased a new stake in AbbVie during the 3rd quarter worth about $33,000. Finally, Adirondack Retirement Specialists Inc. acquired a new position in AbbVie in the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 67.71% of the company’s stock.
AbbVie Trading Up 2.3 %
Shares of AbbVie stock traded up $3.35 during trading hours on Friday, hitting $152.05. The company’s stock had a trading volume of 8,956,730 shares, compared to its average volume of 5,646,455. The business has a fifty day moving average of $156.46 and a 200 day moving average of $148.89. AbbVie Inc. has a 1-year low of $134.09 and a 1-year high of $175.91. The company has a quick ratio of 0.83, a current ratio of 0.93 and a debt-to-equity ratio of 3.77. The company has a market capitalization of $268.90 billion, a PE ratio of 23.00, a P/E/G ratio of 3.36 and a beta of 0.61.
AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The firm had revenue of $15.12 billion during the quarter, compared to the consensus estimate of $15.30 billion. AbbVie had a return on equity of 158.49% and a net margin of 20.39%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.31 EPS. As a group, equities analysts forecast that AbbVie Inc. will post 11.07 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on ABBV. Credit Suisse Group started coverage on shares of AbbVie in a report on Thursday, November 17th. They set an “outperform” rating and a $170.00 price target for the company. BMO Capital Markets decreased their target price on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a research report on Monday, February 6th. Morgan Stanley cut their price target on AbbVie from $182.00 to $178.00 and set an “overweight” rating for the company in a report on Friday. SVB Securities upgraded AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $135.00 to $153.00 in a report on Friday. Finally, Piper Sandler upped their target price on AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $161.00.
Insider Activity at AbbVie
In other AbbVie news, EVP Timothy J. Richmond sold 42,370 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $163.44, for a total value of $6,924,952.80. Following the completion of the sale, the executive vice president now owns 13,837 shares of the company’s stock, valued at $2,261,519.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.08% of the company’s stock.
AbbVie Profile
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.