AbbVie Inc. (NYSE:ABBV) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.2% during the fourth quarter, HoldingsChannel reports. The fund owned 594,251 shares of the company’s stock after purchasing an additional 59,718 shares during the quarter. AbbVie comprises 1.3% of Intech Investment Management LLC’s holdings, making the stock its 10th largest position. Intech Investment Management LLC’s holdings in AbbVie were worth $92,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC lifted its position in shares of AbbVie by 664.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock worth $8,466,000 after purchasing an additional 49,365 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in AbbVie during the third quarter valued at $214,000. Breakwater Capital Group grew its holdings in AbbVie by 12.6% during the 3rd quarter. Breakwater Capital Group now owns 3,354 shares of the company’s stock worth $478,000 after acquiring an additional 375 shares during the period. Lincoln National Corp lifted its stake in shares of AbbVie by 2.2% in the 3rd quarter. Lincoln National Corp now owns 76,960 shares of the company’s stock valued at $11,472,000 after purchasing an additional 1,692 shares during the period. Finally, Meyer Handelman Co. boosted its position in shares of AbbVie by 6.6% during the 3rd quarter. Meyer Handelman Co. now owns 136,235 shares of the company’s stock valued at $20,307,000 after purchasing an additional 8,430 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now owns 55,903 shares in the company, valued at $9,855,698.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 138,616 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 519,099 shares of the company’s stock, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold 302,561 shares of company stock worth $53,645,658 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

AbbVie Stock Performance

ABBV traded down $1.20 on Friday, hitting $157.06. The company’s stock had a trading volume of 3,691,730 shares, compared to its average volume of 5,267,838. The company’s 50 day simple moving average is $167.94 and its 200-day simple moving average is $163.20. 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 12 month low of $130.96 and a 12 month high of $182.89. The firm has a market cap of $277.35 billion, a P/E ratio of 46.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts forecast that AbbVie Inc. will post 11.26 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABBV. Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Cantor Fitzgerald began coverage on AbbVie in a research note on Friday, May 17th. They set an “overweight” rating and a $200.00 price target on the stock. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Finally, Truist Financial raised their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $176.14.

About AbbVie

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.