Liberty Capital Management Inc. Increases Stake in AbbVie Inc. (NYSE:ABBV)

Liberty Capital Management Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,251 shares of the company’s stock after purchasing an additional 103 shares during the period. AbbVie makes up about 1.5% of Liberty Capital Management Inc.’s portfolio, making the stock its 18th biggest position. Liberty Capital Management Inc.’s holdings in AbbVie were worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Groupama Asset Managment boosted its position in AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after buying an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in AbbVie during the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie in the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the fourth quarter worth $35,000. Finally, Mizuho Securities Co. Ltd. raised 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 purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling at AbbVie

In other AbbVie 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 value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on ABBV. JPMorgan Chase & Co. lowered their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a report on Tuesday, December 17th. 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. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Five equities 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Stock Down 1.2 %

Shares of ABBV opened at $190.67 on Monday. The stock has a 50 day moving average price of $177.54 and a 200 day moving average price of $185.69. AbbVie Inc. has a one year low of $153.58 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $336.94 billion, a price-to-earnings ratio of 79.45, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (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 in the previous year, the business posted $2.79 EPS. Equities research analysts forecast that AbbVie Inc. will post 12.32 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.