Czech National Bank Has $84.96 Million Stake in AbbVie Inc. (NYSE:ABBV)

Czech National Bank increased its position in AbbVie Inc. (NYSE:ABBV) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,475 shares of the company’s stock after purchasing an additional 22,324 shares during the period. AbbVie makes up 0.8% of Czech National Bank’s investment portfolio, making the stock its 22nd largest holding. Czech National Bank’s holdings in AbbVie were worth $84,955,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. EnRich Financial Partners LLC raised its stake in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC purchased a new position in shares of AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth approximately $31,000. Prudent Man Investment Management Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $32,000. Finally, Pinney & Scofield Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $36,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Price Performance

ABBV stock opened at $185.53 on Friday. AbbVie Inc. has a 12-month low of $158.83 and a 12-month high of $218.66. The stock has a 50-day moving average price of $185.97 and a two-hundred day moving average price of $186.37. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The company has a market cap of $327.72 billion, a PE ratio of 77.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, topping the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The business had revenue of $13.34 billion for the quarter, compared to analysts’ expectations of $12.91 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. The company’s revenue was up 8.4% compared to the same quarter last year. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ABBV. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Raymond James reaffirmed an “outperform” rating and set a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. Wall Street Zen cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 22nd. Finally, Citigroup reaffirmed a “neutral” rating and set a $205.00 price objective (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

Insider Buying and Selling

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. This represents a 52.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.08% of the company’s stock.

About AbbVie

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.