Columbus Macro LLC Buys 29,524 Shares of AbbVie Inc. (NYSE:ABBV)

Columbus Macro LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 221.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,881 shares of the company’s stock after purchasing an additional 29,524 shares during the quarter. AbbVie makes up approximately 1.1% of Columbus Macro LLC’s investment portfolio, making the stock its 21st biggest position. Columbus Macro LLC’s holdings in AbbVie were worth $7,620,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment increased its position in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC bought a new position in AbbVie during the third quarter valued at about $39,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ABBV shares. Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research report on Monday. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

ABBV opened at $190.20 on Tuesday. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 0.58. The stock has a fifty day moving average price of $176.57 and a 200 day moving average price of $185.13. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 last year, the firm earned $2.79 EPS. Analysts forecast that AbbVie Inc. will post 12.26 EPS for the current fiscal year.

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.