AbbVie Inc. (NYSE:ABBV) Shares Purchased by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY grew its holdings in AbbVie Inc. (NYSE:ABBV) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 104,029 shares of the company’s stock after buying an additional 2,768 shares during the quarter. AbbVie comprises about 2.0% of Matrix Asset Advisors Inc. NY’s investment portfolio, making the stock its 19th largest holding. Matrix Asset Advisors Inc. NY’s holdings in AbbVie were worth $18,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ABBV. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie in the 3rd quarter valued at about $999,000. Saturna Capital Corp grew its holdings in AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Everence Capital Management Inc. increased its position in shares of AbbVie by 41.3% in the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after purchasing an additional 15,550 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of AbbVie by 9.5% in the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock valued at $7,011,000 after purchasing an additional 3,439 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock worth $11,169,000 after purchasing an additional 10,768 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ABBV has been the topic of a number of analyst reports. UBS Group raised their price target on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Barclays boosted their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Morgan Stanley dropped their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wolfe Research began coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective on the stock. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.00.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.25% of the company’s stock.

AbbVie Trading Down 1.1 %

Shares of ABBV stock opened at $174.88 on Wednesday. AbbVie Inc. has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The business’s 50 day moving average is $176.05 and its two-hundred day moving average is $184.94. The company has a market capitalization of $309.04 billion, a P/E ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $2.95 EPS. Equities analysts forecast that AbbVie Inc. will post 10.06 EPS for the current 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.