Mirae Asset Global Investments Co. Ltd. Increases Stock Position in AbbVie Inc. (NYSE:ABBV)

Mirae Asset Global Investments Co. Ltd. grew its stake in AbbVie Inc. (NYSE:ABBV) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 679,875 shares of the company’s stock after buying an additional 149,048 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AbbVie were worth $119,431,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie during the third quarter worth approximately $999,000. Saturna Capital Corp grew its holdings in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Everence Capital Management Inc. raised its position in AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock worth $9,448,000 after purchasing an additional 15,550 shares during the period. GAMMA Investing LLC lifted its stake in AbbVie by 9.5% in the fourth quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after purchasing an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Institutional investors own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent research reports. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price objective on shares of AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Down 0.1 %

NYSE:ABBV opened at $189.97 on Wednesday. AbbVie Inc. has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a market capitalization of $335.71 billion, a PE ratio of 79.16, a P/E/G ratio of 1.84 and a beta of 0.58. The firm’s 50-day moving average price is $176.84 and its 200-day moving average price is $185.26. 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 (NYSE:ABBV) last announced its 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the company posted $2.79 EPS. On average, equities analysts predict that AbbVie Inc. will post 12.26 EPS for the current fiscal 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.