Perceptive Advisors LLC Purchases New Holdings in AbbVie Inc. (NYSE:ABBV)

Perceptive Advisors LLC acquired a new position in shares of AbbVie Inc. (NYSE:ABBV) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 238,000 shares of the company’s stock, valued at approximately $36,883,000.

Other hedge funds have also made changes to their positions in the company. Fiera Capital Corp raised its holdings in shares of AbbVie by 2.6% during the 3rd quarter. Fiera Capital Corp now owns 3,490 shares of the company’s stock worth $520,000 after acquiring an additional 90 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of AbbVie by 4.6% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 29,382 shares of the company’s stock valued at $4,380,000 after buying an additional 1,299 shares in the last quarter. WCG Wealth Advisors LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at $1,916,000. QRG Capital Management Inc. acquired a new position in AbbVie during the 3rd quarter worth about $38,121,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in AbbVie during the 3rd quarter worth about $23,262,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets dropped their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research report on Wednesday, June 5th. Cantor Fitzgerald began coverage on AbbVie in a research report on Friday, May 17th. They set an “overweight” rating and a $200.00 price objective on the stock. Finally, Barclays decreased their target price on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.21.

AbbVie Stock Up 1.2 %

ABBV traded up $2.03 on Friday, reaching $168.59. The company’s stock had a trading volume of 4,377,638 shares, compared to its average volume of 4,854,812. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie Inc. has a fifty-two week low of $130.96 and a fifty-two week high of $182.89. The stock has a 50 day moving average of $163.56 and a two-hundred day moving average of $165.60. The company has a market capitalization of $297.71 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 2.13 and a beta of 0.60.

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

Insiders Place Their Bets

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares of the company’s stock, valued at $10,895,641.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the transaction, the executive vice president now directly owns 55,903 shares in the company, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

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.