Hoylecohen LLC Increases Position in AbbVie Inc. (NYSE:ABBV)

Hoylecohen LLC raised its holdings in AbbVie Inc. (NYSE:ABBV) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,189 shares of the company’s stock after purchasing an additional 1,055 shares during the quarter. Hoylecohen LLC’s holdings in AbbVie were worth $11,187,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of AbbVie by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Morgan Stanley boosted its position in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after buying an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares during the period. Northern Trust Corp boosted its position in AbbVie by 2.3% in the 3rd quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock valued at $3,269,822,000 after buying an additional 491,391 shares during the period. Finally, Norges Bank acquired a new stake in shares of AbbVie in the 4th quarter valued at $3,229,888,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.8 %

Shares of AbbVie stock traded down $1.19 during trading on Friday, hitting $157.07. The stock had a trading volume of 3,689,906 shares, compared to its average volume of 5,511,237. The stock has a 50 day simple moving average of $168.36 and a 200 day simple moving average of $162.95. The company has a market capitalization of $277.37 billion, a PE ratio of 46.61, a P/E/G ratio of 2.04 and a beta of 0.61. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a 1 year low of $130.96 and a 1 year high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company posted $2.46 earnings per share. On average, research analysts expect that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ABBV shares. Guggenheim lifted their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $176.14.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Over the last three months, insiders sold 302,561 shares of company stock worth $53,645,658. 0.25% of the stock is owned by insiders.

AbbVie 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.