AbbVie Inc. (NYSE:ABBV) Shares Acquired by Optas LLC

Optas LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 6.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,824 shares of the company’s stock after acquiring an additional 309 shares during the quarter. Optas LLC’s holdings in AbbVie were worth $857,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the third quarter valued at $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie during the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $190.20 on Tuesday. The firm has a market cap of $336.12 billion, a PE ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The firm’s fifty day moving average is $176.57 and its 200-day moving average is $185.13. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the business posted $2.79 EPS. Sell-side analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ABBV shares. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Barclays upped their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $208.35.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.