Fourpath Capital Management LLC Acquires 876 Shares of AbbVie Inc. (NYSE:ABBV)

Fourpath Capital Management LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,426 shares of the company’s stock after purchasing an additional 876 shares during the period. Fourpath Capital Management LLC’s holdings in AbbVie were worth $1,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp boosted its holdings in shares of AbbVie by 1.6% during the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after buying an additional 1,267,685 shares in the last quarter. FMR LLC grew its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after purchasing an additional 511,470 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after purchasing an additional 373,802 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after purchasing an additional 4,471,806 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABBV shares. Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Sanford C. Bernstein began coverage on shares of AbbVie in a report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a report on Thursday, December 5th. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Leerink Partners upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of AbbVie stock opened at $190.20 on Tuesday. The stock has a market cap of $336.12 billion, a P/E ratio of 79.25, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s fifty day moving average is $176.57 and its 200 day moving average is $185.13. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) 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 quarter in the previous year, the business earned $2.79 earnings per share. Sell-side analysts anticipate that AbbVie Inc. will post 12.26 earnings per share for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

About AbbVie

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.