Cookson Peirce & Co. Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,286 shares of the company’s stock after purchasing an additional 346 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in AbbVie were worth $1,112,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Income Solutions Inc acquired a new stake in AbbVie during the 1st quarter worth approximately $204,000. Ergoteles LLC boosted its position in AbbVie by 17.8% during the 1st quarter. Ergoteles LLC now owns 5,605 shares of the company’s stock worth $909,000 after buying an additional 847 shares during the period. First Western Trust Bank acquired a new stake in AbbVie during the 1st quarter worth approximately $1,150,000. Wsfs Capital Management LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $562,000. Finally, Bridgewater Associates LP boosted its position in AbbVie by 80.4% during the 1st quarter. Bridgewater Associates LP now owns 75,516 shares of the company’s stock worth $12,242,000 after buying an additional 33,661 shares during the period. 67.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on ABBV. Atlantic Securities cut their target price on shares of AbbVie from $162.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday, October 31st. Truist Financial boosted their price target on shares of AbbVie from $160.00 to $180.00 in a research report on Thursday, January 5th. Barclays dropped their price target on shares of AbbVie from $160.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Monday, October 31st. BMO Capital Markets dropped their price target on shares of AbbVie from $170.00 to $169.00 and set an “outperform” rating on the stock in a research report on Monday, October 31st. Finally, Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $140.00 in a research report on Tuesday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has an average rating of “Hold” and an average price target of $160.56.
AbbVie Stock Down 0.8 %
Insider Buying and Selling at AbbVie
In other AbbVie news, EVP Timothy J. Richmond sold 42,370 shares of the business’s stock in a transaction on Monday, December 12th. The shares were sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the completion of the sale, the executive vice president now owns 13,837 shares in the company, valued at approximately $2,261,519.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by company insiders.
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.
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