AbbVie Inc. (NYSE:ABBV) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 25,841.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,234,737 shares of the company’s stock after buying an additional 10,195,284 shares during the quarter. GAMMA Investing LLC’s holdings in AbbVie were worth $2,144,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its stake in AbbVie by 30.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company’s stock valued at $40,000 after acquiring an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC raised its stake in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company’s stock valued at $553,000 after purchasing an additional 52 shares in the last quarter. Peninsula Wealth LLC raised its stake in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company’s stock valued at $242,000 after purchasing an additional 54 shares in the last quarter. Physicians Financial Services Inc. lifted its position in shares of AbbVie by 0.5% during the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company’s stock worth $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC grew its stake in AbbVie by 1.6% in the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company’s stock worth $660,000 after purchasing an additional 57 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $185.40 on Friday. The firm’s 50 day moving average is $186.28 and its two-hundred day moving average is $186.16. The firm has a market capitalization of $327.49 billion, a P/E ratio of 77.25, a PEG ratio of 1.62 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion during the quarter, compared to analyst estimates of $12.91 billion. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 EPS. Analysts anticipate that AbbVie Inc. will post 12.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James restated an “outperform” rating and set a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Morgan Stanley upped their price target on AbbVie from $241.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $210.00 price objective for the company. Evercore ISI boosted their target price on shares of AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Truist Financial raised their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

AbbVie 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.