Skopos Labs Inc. Takes $1.52 Million Position in AbbVie Inc. (NYSE:ABBV)

Skopos Labs Inc. bought a new stake in AbbVie Inc. (NYSE:ABBV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 9,793 shares of the company’s stock, valued at approximately $1,518,000. AbbVie accounts for approximately 0.7% of Skopos Labs Inc.’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Norges Bank purchased a new stake in shares of AbbVie in the fourth quarter valued at $3,229,888,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of AbbVie by 29,922.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,032,374 shares of the company’s stock worth $899,186,000 after acquiring an additional 6,012,281 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of AbbVie in the fourth quarter worth approximately $499,955,000. Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after purchasing an additional 1,702,415 shares during the period. Finally, Vanguard Group Inc. increased its position in AbbVie by 0.9% during the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock worth $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at $92,020,679.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Robert A. Michael sold 68,879 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.45, for a total transaction of $12,153,699.55. Following the sale, the chief operating officer now owns 98,645 shares of the company’s stock, valued at approximately $17,405,910.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the completion of the transaction, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The disclosure for this sale can be found here. Insiders have sold a total of 302,561 shares of company stock worth $53,645,658 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

AbbVie Stock Down 0.8 %

NYSE ABBV traded down $1.19 during trading on Friday, hitting $157.07. 3,689,906 shares of the company traded hands, compared to its average volume of 5,511,237. The company has a market capitalization of $277.37 billion, a P/E ratio of 46.61, a PEG ratio of 2.04 and a beta of 0.61. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The business has a fifty day simple moving average of $168.36 and a 200 day simple moving average of $162.95. AbbVie Inc. has a 12 month low of $130.96 and a 12 month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS. As a group, sell-side analysts predict that AbbVie Inc. will post 11.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ABBV shares. BMO Capital Markets lowered their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Truist Financial boosted their target price on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Guggenheim raised their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James boosted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.14.

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.