Palacios Wealth Management LLC bought a new stake in shares of AbbVie Inc. (NYSE:ABBV – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,968 shares of the company’s stock, valued at approximately $1,543,000. AbbVie accounts for 1.7% of Palacios Wealth Management LLC’s portfolio, making the stock its 15th biggest position.
Several other institutional investors also recently bought and sold shares of ABBV. International Assets Investment Management LLC boosted its position in 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 valued at $933,698,000 after buying an additional 4,471,806 shares during the period. State Street Corp raised its stake in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after acquiring an additional 1,267,685 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AbbVie by 59.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after purchasing an additional 781,858 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares in the last quarter. Finally, Saturna Capital Corp grew its stake in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.
AbbVie Price Performance
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $2.79 EPS. As a group, equities analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.
Analyst Upgrades and Downgrades
ABBV has been the subject of several recent research reports. Guggenheim lifted their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Piper Sandler boosted their price target on shares of AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Truist Financial raised their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.
View Our Latest Analysis on ABBV
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.
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