AbbVie Inc. (NYSE:ABBV) Shares Bought by Griffin Asset Management Inc.

Griffin Asset Management Inc. grew its position in AbbVie Inc. (NYSE:ABBV) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,656 shares of the company’s stock after acquiring an additional 1,074 shares during the quarter. AbbVie comprises approximately 1.7% of Griffin Asset Management Inc.’s portfolio, making the stock its 12th biggest position. Griffin Asset Management Inc.’s holdings in AbbVie were worth $14,510,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Groupama Asset Managment lifted its position in AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth approximately $28,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the fourth quarter worth $35,000. Marquette Asset Management LLC purchased a new position in AbbVie in the 3rd quarter valued at $39,000. Finally, Mizuho Securities Co. Ltd. increased its stake in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares during the period. 70.23% of the stock is currently 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 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 sale, the senior vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Citigroup reduced their target price on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research note on Tuesday. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Guggenheim boosted their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Bank of America reissued a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a report on Tuesday, December 10th. Finally, Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

AbbVie Stock Performance

NYSE ABBV opened at $174.88 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market cap of $309.04 billion, a price-to-earnings ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The business has a fifty day moving average of $176.05 and a 200-day moving average of $184.94.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. As a group, analysts predict that AbbVie Inc. will post 10.06 earnings per share 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.