EMC Capital Management Takes $150,000 Position in AbbVie Inc. (NYSE:ABBV)

EMC Capital Management acquired a new stake in shares of AbbVie Inc. (NYSE:ABBVFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,010 shares of the company’s stock, valued at approximately $150,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. VitalStone Financial LLC lifted its position in shares of AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock valued at $33,000 after acquiring an additional 166 shares during the last quarter. Hibernia Wealth Partners LLC purchased a new stake in shares of AbbVie in the third quarter valued at $36,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of AbbVie in the second quarter valued at $38,000. True Wealth Design LLC purchased a new stake in shares of AbbVie in the fourth quarter valued at $39,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of AbbVie by 39.5% in the third quarter. Blue Bell Private Wealth Management LLC now owns 286 shares of the company’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 67.86% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the topic of a number of research reports. Truist Financial upped their price target on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Morgan Stanley increased their target price on shares of AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. HSBC downgraded shares of AbbVie from a “buy” rating to a “hold” rating and lowered their target price for the stock from $167.00 to $156.00 in a research report on Monday, December 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of AbbVie in a research report on Thursday, November 9th. They set a “hold” rating and a $150.00 target price on the stock. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.36.

View Our Latest Stock Analysis on ABBV

AbbVie Stock Down 0.6 %

NYSE ABBV opened at $173.05 on Tuesday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 0.84 and a current ratio of 0.96. The firm has a 50-day simple moving average of $160.44 and a 200 day simple moving average of $151.48. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $175.91. The stock has a market cap of $311.49 billion, a PE ratio of 63.39, a PEG ratio of 2.21 and a beta of 0.57.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Friday, February 2nd. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 154.73%. The business had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.02 billion. During the same quarter last year, the company earned $3.60 earnings per share. The firm’s revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that AbbVie Inc. will post 11.14 EPS for the current year.

Insider Activity at AbbVie

In other AbbVie news, EVP Nicholas Donoghoe sold 2,912 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the completion of the transaction, the executive vice president now owns 55,903 shares in the company, valued at $8,649,312.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Beh├žet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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