AbbVie Inc. (NYSE:ABBV) Shares Acquired by Pathstone Family Office LLC

Pathstone Family Office LLC lifted its stake in AbbVie Inc. (NYSE:ABBVFree Report) by 219.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 169,603 shares of the company’s stock after acquiring an additional 116,569 shares during the period. Pathstone Family Office LLC’s holdings in AbbVie were worth $25,327,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Miller Wealth Advisors LLC raised its stake in shares of AbbVie by 140.0% in the second quarter. Miller Wealth Advisors LLC now owns 240 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the last quarter. VitalStone Financial LLC grew its holdings in AbbVie by 218.4% during the 2nd quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after acquiring an additional 166 shares during the period. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at $36,000. PCA Investment Advisory Services Inc. bought a new position in shares of AbbVie in the 2nd quarter worth $38,000. Finally, True Wealth Design LLC bought a new position in AbbVie during the fourth quarter worth about $39,000. Institutional investors own 67.86% of the company’s stock.

AbbVie Price Performance

ABBV stock traded up $1.14 during mid-day trading on Tuesday, hitting $172.40. The stock had a trading volume of 4,269,418 shares, compared to its average volume of 5,442,167. The firm has a market capitalization of $310.32 billion, a P/E ratio of 63.06, a P/E/G ratio of 3.04 and a beta of 0.57. The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 4.59. The firm has a fifty day simple moving average of $157.16 and a 200 day simple moving average of $150.42. AbbVie Inc. has a 52 week low of $130.96 and a 52 week high of $173.96.

AbbVie (NYSE:ABBVGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.03. The company had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.02 billion. AbbVie had a net margin of 8.95% and a return on equity of 154.73%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 EPS. As a group, research analysts forecast that AbbVie Inc. will post 11.11 EPS for the current year.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 2,912 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $154.72, for a total transaction of $450,544.64. Following the transaction, the executive vice president now owns 55,903 shares in the company, valued at approximately $8,649,312.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

ABBV has been the subject of a number of research analyst reports. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. 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 report on Monday. The Goldman Sachs Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and set a $173.00 target price for the company in a research report on Monday, December 11th. UBS Group cut their price target on shares of AbbVie from $157.00 to $150.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Finally, BMO Capital Markets increased their price target on AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.47.

Check Out Our Latest Stock Analysis on AbbVie

AbbVie Company Profile

(Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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