AbbVie Inc. (NYSE:ABBV) Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC increased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 11.9% in the 4th quarter, HoldingsChannel reports. The firm owned 33,308 shares of the company’s stock after acquiring an additional 3,537 shares during the quarter. Quadrant Capital Group LLC’s holdings in AbbVie were worth $5,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS raised its position in shares of AbbVie by 0.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 19,989 shares of the company’s stock worth $2,980,000 after acquiring an additional 78 shares during the period. Kendall Capital Management raised its stake in shares of AbbVie by 0.6% during the 3rd quarter. Kendall Capital Management now owns 32,435 shares of the company’s stock worth $4,835,000 after buying an additional 195 shares during the period. Byrne Asset Management LLC lifted its position in shares of AbbVie by 5.1% during the 3rd quarter. Byrne Asset Management LLC now owns 3,014 shares of the company’s stock valued at $449,000 after buying an additional 145 shares in the last quarter. Manhattan West Asset Management LLC grew its stake in AbbVie by 12.3% in the 3rd quarter. Manhattan West Asset Management LLC now owns 3,034 shares of the company’s stock valued at $439,000 after acquiring an additional 333 shares during the period. Finally, Tower View Wealth Management LLC increased its holdings in AbbVie by 63.9% in the 3rd quarter. Tower View Wealth Management LLC now owns 1,387 shares of the company’s stock worth $207,000 after acquiring an additional 541 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Kevin K. Buckbee sold 5,144 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $176.65, for a total value of $908,687.60. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,233,546.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at $42,375,512.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,324 shares of company stock valued at $67,780,003. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ABBV. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Raymond James lifted their price objective on AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. William Blair raised AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Finally, Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.14.

AbbVie Trading Up 1.1 %

Shares of NYSE ABBV traded up $1.86 during trading on Friday, reaching $166.21. The stock had a trading volume of 2,472,998 shares, compared to its average volume of 5,530,550. The company has a market cap of $293.51 billion, a P/E ratio of 49.01, a PEG ratio of 2.07 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The business’s 50-day moving average price is $170.13 and its 200-day moving average price is $162.24.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. AbbVie’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. On average, equities research analysts predict that AbbVie Inc. will post 11.28 EPS for the current fiscal year.

AbbVie Company Profile

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.