Portfolio Design Labs LLC Purchases 4,404 Shares of AbbVie Inc. (NYSE:ABBV)

Portfolio Design Labs LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 27.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,654 shares of the company’s stock after buying an additional 4,404 shares during the period. Portfolio Design Labs LLC’s holdings in AbbVie were worth $3,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fishman Jay A Ltd. MI increased its holdings in AbbVie by 1.4% during the 4th quarter. Fishman Jay A Ltd. MI now owns 68,907 shares of the company’s stock worth $12,245,000 after purchasing an additional 954 shares in the last quarter. Latitude Advisors LLC increased its holdings in AbbVie by 380.5% during the 4th quarter. Latitude Advisors LLC now owns 12,354 shares of the company’s stock worth $2,195,000 after purchasing an additional 9,783 shares in the last quarter. Sovran Advisors LLC bought a new stake in AbbVie during the 4th quarter worth approximately $552,000. Compound Global Advisors LLC bought a new stake in AbbVie during the 4th quarter worth approximately $311,000. Finally, Axecap Investments LLC increased its holdings in AbbVie by 9.2% during the 4th quarter. Axecap Investments LLC now owns 23,839 shares of the company’s stock worth $4,236,000 after purchasing an additional 2,005 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ABBV shares. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Guggenheim boosted their target price on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Sanford C. Bernstein started coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price on the stock. Argus upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Wolfe Research started coverage on AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.35.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

AbbVie Trading Up 0.8 %

Shares of ABBV stock opened at $191.81 on Wednesday. The company’s fifty day simple moving average is $177.71 and its two-hundred day simple moving average is $185.81. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The stock has a market capitalization of $338.96 billion, a price-to-earnings ratio of 79.92, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the firm posted $2.79 EPS. As a group, analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current year.

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.