Great Lakes Retirement Inc. Makes New $216,000 Investment in AbbVie Inc. (NYSE:ABBV)

Great Lakes Retirement Inc. bought a new position in shares of AbbVie Inc. (NYSE:ABBV) in the fourth quarter, HoldingsChannel reports. The firm bought 1,218 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ABBV. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $35,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% during the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ABBV. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a report on Friday, November 22nd. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a report on Tuesday, December 17th. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Five research 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 stock. According to data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Up 0.6 %

NYSE ABBV opened at $193.06 on Thursday. The company’s fifty day simple moving average is $177.91 and its 200-day simple moving average is $185.86. AbbVie Inc. has a 52 week low of $153.58 and a 52 week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The stock has a market cap of $341.16 billion, a P/E ratio of 80.44, a PEG ratio of 1.53 and a beta of 0.58.

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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 EPS. Equities research analysts predict that AbbVie Inc. will post 12.32 EPS for the current fiscal year.

Insider Transactions at AbbVie

In related 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

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.