Global X Japan Co. Ltd. Boosts Stake in AbbVie Inc. (NYSE:ABBV)

Global X Japan Co. Ltd. grew its position in AbbVie Inc. (NYSE:ABBV) by 14.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,743 shares of the company’s stock after acquiring an additional 349 shares during the quarter. Global X Japan Co. Ltd.’s holdings in AbbVie were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ABBV. AMF Tjanstepension AB bought a new position in AbbVie during the third quarter valued at $8,777,000. West Financial Advisors LLC raised its position in shares of AbbVie by 16.6% during the 3rd quarter. West Financial Advisors LLC now owns 766 shares of the company’s stock valued at $151,000 after buying an additional 109 shares in the last quarter. CWM LLC increased its stake in AbbVie by 6.7% during the third quarter. CWM LLC now owns 245,019 shares of the company’s stock worth $48,386,000 after acquiring an additional 15,388 shares during the last quarter. Wedmont Private Capital raised its position in AbbVie by 5.0% during the third quarter. Wedmont Private Capital now owns 22,168 shares of the company’s stock valued at $4,292,000 after purchasing an additional 1,051 shares during the period. Finally, Adirondack Trust Co. increased its position in shares of AbbVie by 1.9% during the 3rd quarter. Adirondack Trust Co. now owns 16,240 shares of the company’s stock valued at $3,207,000 after purchasing an additional 301 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday. Daiwa Capital Markets cut AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, December 5th. Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Sanford C. Bernstein started coverage on shares of AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target on the stock. Finally, Citigroup upped their target price on AbbVie from $205.00 to $215.00 and gave the stock a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Price Performance

ABBV stock opened at $192.95 on Friday. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32. The business has a fifty day moving average of $177.19 and a two-hundred day moving average of $185.43. The stock has a market cap of $340.96 billion, a price-to-earnings ratio of 80.39, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 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 last year, the firm posted $2.79 earnings per share. As a group, research analysts anticipate that AbbVie Inc. will post 12.26 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.