Counterweight Ventures LLC Has $3.60 Million Stock Holdings in AbbVie Inc. (NYSE:ABBV)

Counterweight Ventures LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 20,271 shares of the company’s stock after purchasing an additional 675 shares during the period. AbbVie makes up about 2.5% of Counterweight Ventures LLC’s portfolio, making the stock its 16th biggest holding. Counterweight Ventures LLC’s holdings in AbbVie were worth $3,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AMF Tjanstepension AB acquired a new position in AbbVie in the 3rd quarter valued at approximately $8,777,000. WealthBridge Investment Counsel Inc. boosted its holdings in shares of AbbVie by 0.5% during the 3rd quarter. WealthBridge Investment Counsel Inc. now owns 36,746 shares of the company’s stock worth $7,257,000 after buying an additional 195 shares in the last quarter. Keeler & Nadler Financial Planning & Wealth Management acquired a new stake in AbbVie in the third quarter worth $226,000. Watts Gwilliam & Co. LLC bought a new stake in AbbVie in the 3rd quarter valued at about $3,110,000. Finally, Merrion Investment Management Co LLC raised its position in shares of AbbVie by 7.7% during the third quarter. Merrion Investment Management Co LLC now owns 7,000 shares of the company’s stock worth $1,382,000 after purchasing an additional 500 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by corporate insiders.

AbbVie Trading Down 1.2 %

Shares of ABBV stock opened at $190.67 on Friday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The company’s fifty day simple moving average is $177.38 and its two-hundred day simple moving average is $185.48. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (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 period in the previous year, the firm posted $2.79 EPS. As a group, analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ABBV shares. Piper Sandler upped their target price on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Citigroup upped their price target on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

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.