140,000 Shares in AbbVie Inc. (NYSE:ABBV) Acquired by MUFG Securities EMEA plc

MUFG Securities EMEA plc acquired a new stake in AbbVie Inc. (NYSE:ABBVFree Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 140,000 shares of the company’s stock, valued at approximately $21,696,000. AbbVie comprises approximately 1.3% of MUFG Securities EMEA plc’s holdings, making the stock its 21st largest holding.

A number of other hedge funds have also recently bought and sold shares of ABBV. WealthPlan Investment Management LLC boosted its position in AbbVie by 664.4% in the 3rd quarter. WealthPlan Investment Management LLC now owns 56,795 shares of the company’s stock valued at $8,466,000 after buying an additional 49,365 shares during the last quarter. LGT Group Foundation boosted its position in shares of AbbVie by 12.9% in the 3rd quarter. LGT Group Foundation now owns 14,953 shares of the company’s stock worth $2,217,000 after purchasing an additional 1,709 shares during the last quarter. Washington Trust Bank boosted its position in shares of AbbVie by 39.5% in the 3rd quarter. Washington Trust Bank now owns 22,611 shares of the company’s stock worth $3,370,000 after purchasing an additional 6,406 shares during the last quarter. Schechter Investment Advisors LLC boosted its position in shares of AbbVie by 3.8% in the 3rd quarter. Schechter Investment Advisors LLC now owns 35,588 shares of the company’s stock worth $5,305,000 after purchasing an additional 1,315 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in shares of AbbVie by 37.4% in the 3rd quarter. Sigma Planning Corp now owns 127,158 shares of the company’s stock worth $18,954,000 after purchasing an additional 34,586 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. William Blair upgraded AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Raymond James raised their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Guggenheim raised their price objective on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $176.14.

Read Our Latest Research Report on ABBV

AbbVie Stock Down 0.8 %

Shares of ABBV traded down $1.20 during midday trading on Friday, hitting $157.06. The stock had a trading volume of 3,691,730 shares, compared to its average volume of 5,267,838. The company has a 50 day simple moving average of $167.94 and a two-hundred day simple moving average of $163.20. AbbVie Inc. has a twelve month low of $130.96 and a twelve month high of $182.89. The firm has a market cap of $277.35 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the business posted $2.46 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post 11.26 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, COO Robert A. Michael sold 68,879 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the sale, the chief operating officer now owns 98,645 shares in the company, valued at $17,405,910.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the sale, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert A. Michael sold 68,879 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.45, for a total value of $12,153,699.55. Following the sale, the chief operating officer now owns 98,645 shares in the company, valued at approximately $17,405,910.25. The disclosure for this sale can be found here. Insiders have sold 302,561 shares of company stock valued at $53,645,658 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

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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