AbbVie Inc. (NYSE:ABBV) Position Boosted by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC increased its holdings in AbbVie Inc. (NYSE:ABBVFree Report) by 33.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,914 shares of the company’s stock after buying an additional 7,737 shares during the quarter. Mizuho Markets Americas LLC’s holdings in AbbVie were worth $4,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCI Wealth Advisors Inc. boosted its stake in AbbVie by 1.0% during the 4th quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock valued at $2,641,000 after purchasing an additional 165 shares in the last quarter. Torray Investment Partners LLC boosted its stake in AbbVie by 13.0% during the 3rd quarter. Torray Investment Partners LLC now owns 21,190 shares of the company’s stock valued at $3,159,000 after purchasing an additional 2,446 shares in the last quarter. American National Bank boosted its stake in AbbVie by 4.8% during the 4th quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its stake in AbbVie by 21.3% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 26,409 shares of the company’s stock valued at $3,936,000 after purchasing an additional 4,633 shares in the last quarter. Finally, Amplius Wealth Advisors LLC boosted its stake in AbbVie by 17.6% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock valued at $413,000 after purchasing an additional 400 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

AbbVie Stock Up 1.3 %

Shares of NYSE:ABBV traded up $2.07 during midday trading on Friday, hitting $166.42. 5,152,176 shares of the stock were exchanged, compared to its average volume of 5,284,928. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. AbbVie Inc. has a 52-week low of $130.96 and a 52-week high of $182.89. The business’s fifty day simple moving average is $169.88 and its two-hundred day simple moving average is $162.56. The company has a market capitalization of $293.88 billion, a PE ratio of 49.38, a P/E/G ratio of 2.08 and a beta of 0.61.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same period last year, the company earned $2.46 earnings per share. AbbVie’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 11.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ABBV. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. BMO Capital Markets cut their price objective on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Barclays cut their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Finally, Cantor Fitzgerald began coverage on AbbVie in a research report on Friday. They set an “overweight” rating and a $200.00 price objective for the company. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.14.

Read Our Latest Research Report on ABBV

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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