AbbVie Inc. (NYSE:ABBV) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 92.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 58,237 shares of the company’s stock after buying an additional 27,983 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in AbbVie were worth $9,412,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ABBV. O Dell Group LLC grew its stake in AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group grew its stake in AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock valued at $27,000 after buying an additional 93 shares during the last quarter. Align Wealth Management LLC acquired a new position in AbbVie in the 4th quarter valued at $27,000. Red Tortoise LLC acquired a new position in AbbVie in the 4th quarter valued at $27,000. Finally, My Personal CFO LLC acquired a new position in AbbVie in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 67.71% of the company’s stock.

Insider Buying and Selling at AbbVie

In related news, SVP Elaine K. Sorg sold 15,003 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $155.00, for a total value of $2,325,465.00. Following the transaction, the senior vice president now directly owns 42,829 shares in the company, valued at $6,638,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Perry C. Siatis sold 12,135 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $1,857,625.80. Following the completion of the sale, the executive vice president now owns 10,377 shares of the company’s stock, valued at $1,588,511.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Elaine K. Sorg sold 15,003 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total transaction of $2,325,465.00. Following the completion of the transaction, the senior vice president now directly owns 42,829 shares of the company’s stock, valued at approximately $6,638,495. The disclosure for this sale can be found here. Insiders have sold a total of 128,356 shares of company stock worth $19,901,151 over the last ninety days. Insiders own 0.26% of the company’s stock.

AbbVie Stock Performance

Shares of ABBV stock opened at $138.62 on Friday. The company’s fifty day simple moving average is $154.18 and its 200-day simple moving average is $154.85. The company has a quick ratio of 0.82, a current ratio of 0.96 and a debt-to-equity ratio of 4.46. The firm has a market cap of $244.57 billion, a PE ratio of 32.77, a P/E/G ratio of 2.57 and a beta of 0.58. AbbVie Inc. has a 12 month low of $134.09 and a 12 month high of $168.11.

AbbVie (NYSE:ABBV – Get Rating) last issued its earnings results on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.02. The business had revenue of $12.23 billion for the quarter, compared to the consensus estimate of $12.23 billion. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.16 earnings per share. Equities research analysts expect that AbbVie Inc. will post 10.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Guggenheim reduced their price target on shares of AbbVie from $172.00 to $171.00 in a report on Friday, April 28th. StockNews.com assumed coverage on shares of AbbVie in a report on Thursday, May 18th. They issued a “strong-buy” rating for the company. BMO Capital Markets reduced their price target on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating for the company in a report on Monday, February 6th. Atlantic Securities reduced their price target on shares of AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a report on Friday, February 10th. Finally, Piper Sandler increased their price target on shares of AbbVie from $157.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 9th. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $163.40.

AbbVie Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.