Sivik Global Healthcare LLC Buys New Shares in AbbVie Inc. (NYSE:ABBV)

Sivik Global Healthcare LLC purchased a new position in AbbVie Inc. (NYSE:ABBV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 25,000 shares of the company’s stock, valued at approximately $4,443,000. AbbVie comprises approximately 2.3% of Sivik Global Healthcare LLC’s holdings, making the stock its 19th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of AbbVie in the third quarter worth approximately $999,000. Saturna Capital Corp boosted its holdings in shares of AbbVie by 486.1% in 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. grew its stake in shares of AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after buying an additional 15,550 shares during the period. GAMMA Investing LLC increased its holdings in shares of AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after buying an additional 3,439 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after buying an additional 10,768 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Performance

Shares of AbbVie stock opened at $175.54 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm’s 50-day simple moving average is $176.37 and its 200-day simple moving average is $184.90. The firm has a market cap of $310.21 billion, a PE ratio of 60.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 earnings per share. Equities analysts forecast that AbbVie Inc. will post 10.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. BMO Capital Markets dropped their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Bank of America reiterated a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research note on Tuesday, December 10th. Daiwa Capital Markets downgraded shares of 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. Finally, Truist Financial decreased their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.